Sunday, January 13, 2013
Time Inc. to lay off 700 people
How’s that “hope and change” working for them now?
Time Inc. revenue fell 6% for the nine months ended in September to $2.5 billion. Profit dropped 14% to $220 million. During that period, it dominated 21.5% of overall domestic magazine advertising.
Time’s stable of 21 U.S. magazines and 25 websites includes Time, In Style, Fortune, People, Entertainment Weekly, Sports Illustrated and Real Simple. It has over 100 titles worldwide.
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