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Time Inc. to Cut $100 Million; Extensive Layoffs Are Expected (Dinosaur Media DeathWatch™)
The New York Times ^ | October 29, 2009 | Stephanie Clifford

Posted on 10/29/2009 4:03:37 PM PDT by abb

Signaling that worse times are ahead for magazines, Time Inc. is expected to announce next week that it will cut $100 million from costs, including another big round of layoffs.

The timing is coordinated with parent company Time Warner’s third-quarter earnings announcement, sources said, scheduled for Wednesday morning.

Time Inc., the publisher of titles like Time, Fortune, and People, has already cut costs dramatically: a year ago, it announced it was dismissing 6 percent of its work force, or about 600 people.

That was apparently not enough to make up for revenue declines. The $100 million in costs is expected to come largely from layoffs, said sources, who asked to remain anonymous as they were not authorized to discuss the matter.

Michael Nathanson, an analyst at Sanford C. Bernstein & Co., said he expected that third-quarter revenue at Time Inc. would fall about 19 percent, to $900 million.

“For the year, we’re at about $3.7 billion, and this company had done almost $5 billion as late as 2007,” Mr. Nathanson said.

Since 2004, Time Inc. has cut about $800 million in costs, Mr. Nathanson said.

Overall, Mr. Nathanson said, he expects Time Warner to post earnings of $0.54 cents a share, well up from the $0.30 a share it posted in the third quarter of 2008.

Time Inc. has already been slashing costs over the last several years. Since 2007 it has shut down titles including Business 2.0, Cottage Living, Southern Accents and Life, which it had revived as a newspaper supplement. Last week, Fortune announced that it would no longer be biweekly, and would drop its frequency from 25 to 18 issues a year. A stricter expense-account policy has been in place for some time, and some magazines have decreased the weight of the paper they use.

snip

(Excerpt) Read more at mediadecoder.blogs.nytimes.com ...


TOPICS: Business/Economy; Culture/Society; Front Page News; News/Current Events
KEYWORDS: advertising; dbm; layoffs; liberalmedia; magazines; time; timeinc; timemag
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TIME Stands Still

1 posted on 10/29/2009 4:03:38 PM PDT by abb
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To: abb

TIME Stands Still

2 posted on 10/29/2009 4:03:53 PM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: 04-Bravo; aimhigh; andyandval; Arizona Carolyn; backhoe; Bahbah; bert; bilhosty; Caipirabob; ...

ping


3 posted on 10/29/2009 4:04:30 PM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

Gee, these guys are way behind the curve. Didn’t they here - the recession ended today ! Happy Days are Here Again !


4 posted on 10/29/2009 4:05:54 PM PDT by crescen7 (game on)
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To: abb

http://nymag.com/daily/intel/2009/10/jon_meacham_as_far_as_digital.html
Jon Meacham: As Far As Digital Delivery of Print Goes, We’re ‘Kind of Where the Sony Cassette Walkman Was’

http://weblogs.jomc.unc.edu/talkingbiznews/?p=11548
ACBJ CEO talks about the business of business news

http://www.google.com/hostednews/ap/article/ALeqM5iCcKlUw-MuMb3ZaxTojKgdBXBYjAD9BKTU3O0
Editors see financial gains from cutting frequency

http://www.boston.com/business/ticker/2009/10/globe_publisher_2.html
Globe publisher Ainsley to retire; Mayer promoted

http://www.poynter.org/column.asp?id=45&aid=172607
Wall Street Journal closes its Boston bureau

http://www.philly.com/inquirer/business/20091029_Papers_cite_20_6__drop_in_revenue__but_stay_in_black.html
Papers cite 20.6% drop in revenue, but stay in black

http://www.washingtonpost.com/wp-dyn/content/article/2009/10/28/AR2009102804896.html
The vestigial tale

http://www.slate.com/id/2233849/
Paper HangersNewspapers aren’t doing as badly as you think.


5 posted on 10/29/2009 4:09:44 PM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

I’m glad Time is slashing liberals out of the budget, but these dang DNC outlets are still left surviving.

I want to see them go under. Fast.


6 posted on 10/29/2009 4:09:46 PM PDT by ConservativeMind (I love it every time a POS dies at the hands of a victim.)
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To: abb

I guess Glenn Becks picture was an appropriate cover for them... Who gets to laugh last?????? LOL


7 posted on 10/29/2009 4:10:57 PM PDT by tired&retired
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To: abb

Great news.


8 posted on 10/29/2009 4:12:09 PM PDT by Parley Baer
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To: tired&retired

9 posted on 10/29/2009 4:13:24 PM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

hehehe! i order subscriptions for my office and I dropped Time at the first opportunity.


10 posted on 10/29/2009 4:13:39 PM PDT by rj45mis
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To: abb

Cleaning house before the government bail out?


11 posted on 10/29/2009 4:13:45 PM PDT by doc1019
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To: abb

Well, I think they had Obama on the cover about 18 times this year. How’d that work for them? Maybe they should have tried Madonna or Princess Di.

Actually, Rolling Stone won the Obama Cover of the Year Award from the Magazine Editors Group, so I guess all those Time covers just didn’t work very well:

http://newsbusters.org/blogs/lachlan-markay/2009/10/15/magazine-editors-group-creates-award-category-obama-magazine-covers


12 posted on 10/29/2009 4:13:46 PM PDT by Cicero (Marcus Tullius)
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To: Cicero

TIME

"TIME, oh, TIME
Where did you go
TIME, oh, good, good TIME
Where did you go"

13 posted on 10/29/2009 4:15:23 PM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb; All

Just wait..Time is considering adopting the same strategy as SI..with a swimsuit edition..they can’t wait to put Zero and Michelle on the cover....


14 posted on 10/29/2009 4:22:07 PM PDT by ken5050 (Save the Earth!!!!! It's the ONLY planet with chocolate!)
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To: abb

http://www.broadcastingcable.com/article/366773-Meredith_Broadcast_Revenue_Down_13_.php
Meredith Broadcast Revenue Down 13%

http://www.businessinsider.com/comcast-nbc-deal-hits-a-few-snags-2009-10
Comcast-NBC Deal Hits A Few Snags

http://www.guardian.co.uk/media/pda/2009/oct/29/sales-fall-newspaper-readership
As sales fall, newspapers must find a way to measure multimedia readership

http://www.nytimes.com/2009/10/29/business/global/29copy.html?_r=1
Germany Looks at Ways to Protect Online Journalism

http://www.guardian.co.uk/media/2009/oct/29/bbc-cut-100-managers
BBC to cut more than 100 managers to make £20m executive savings

http://www.mediabistro.com/fishbowlny/media_events/good_riddance_to_the_mainstream_media_not_quite_yet_141554.asp
Good Riddance To The Mainstream Media? Not Quite Yet


15 posted on 10/29/2009 4:22:09 PM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

Perhaps TIME’s “Man of the Year for 2009” will be one of its own laid off writers.


16 posted on 10/29/2009 4:22:53 PM PDT by TMA62 (TMA62)
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To: abb

Gee, that headline brightened up my day.


17 posted on 10/29/2009 4:23:05 PM PDT by Signalman
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To: ken5050

Father TIME

18 posted on 10/29/2009 4:23:44 PM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

I think the best song is the one Vanilla Fudge did with endless stoned “ Time...Time...Time...” ha.


19 posted on 10/29/2009 4:23:58 PM PDT by Recovering Ex-hippie (Pray for Israel! And Georgia ! And the Iranian people! and Honduras!)
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To: abb
Signaling that worse times are ahead for magazines, Time Inc. is expected to announce next week that it will cut $100 million from costs, including another big round of layoffs.

Time for another stimulus package to keep the left biased press running.

Fire up some more printing presses....Oh, I did a pun!

20 posted on 10/29/2009 4:24:35 PM PDT by EGPWS (Trust in God, question everyone else)
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To: abb


Eyes are blinded by tears of pain
Hopes and dreams are shattered into fragments time and time again
Life's a prison and death's the key
Time take my life (x's 9)
It's gotta bring me down. Down down down 'til I'm free.

Where's the reason and where's the rhyme
Life's a single second in the eternity of time
Life's a gift that time takes away
Time take my life (x's 9)
It's gotta bring me down. Down down down everyday, everyday.

repeat 1st verse and chorus
Until your last breath, until your last breath slips away
(that's what time is babe, that's what life's all about babe
you can't rule it babe, it's gotcha babe)

21 posted on 10/29/2009 4:25:48 PM PDT by Chode (American Hedonist *DTOM* -ww- I AM JIM THOMPSON!)
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To: abb

OK all employees line up. Only those that have shown the most loyalty to the master high leader and messiah will be retained. All others we wish you all the best in your new adventures and careers.


22 posted on 10/29/2009 4:26:10 PM PDT by Harley (Life is Tough, But It's a Lot Tougher When You're a Liberal. Stop Global Whining Now.)
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To: abb

http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1004031690
FCC Looks to Assess ‘State of the Media’

http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1004031741
Wells Fargo Downgrades Gannett Over Advertising, Circ, and ... Leno?

http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1004031704
Two Minnesota Dailies Opt to Drop Days


23 posted on 10/29/2009 4:27:48 PM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: Recovering Ex-hippie

TIME Is On My Side

24 posted on 10/29/2009 4:30:17 PM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

I guess Treasury will convert “Time” into a “Bank Holding Company” and give them 10 trillion dollars....


25 posted on 10/29/2009 4:30:38 PM PDT by KoRn (Department of Homeland Security, Certified - "Right Wing Extremist")
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To: Harley

Will not be missed much, read this weeks addition, nothing worth reading. Should have been scuttled long ago. Left Leaning rag, that was a waste of trees.


26 posted on 10/29/2009 4:30:53 PM PDT by BooBoo1000 (Some times I wake up grumpy, other times I let her sleep/)
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To: Chode

I Ain't Got TIME Anymore

27 posted on 10/29/2009 4:31:36 PM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: BooBoo1000

My last TIME was their gun/suicide issue 25 years ago. I realized they’d been taken over by fools.


28 posted on 10/29/2009 4:32:36 PM PDT by Eric in the Ozarks
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To: Eric in the Ozarks; All

Lookie here!!!

http://www.politico.com/blogs/michaelcalderone/1009/Layoffs_expected_at_AP_by_end_of_09.html
Layoffs expected at AP by end of ‘09


29 posted on 10/29/2009 4:34:56 PM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

http://www.insideradio.com/Article.asp?id=1565921&spid=32060
FCC TO STUDY MEDIA HEALTH.

http://www.nypost.com/p/news/business/it_for_forbes_editor_corps_yl8wOvThJj3W8cTtjV5p1L
It’s ‘30’ for Forbes editor corps


30 posted on 10/29/2009 4:36:13 PM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

These publishing POS should reap what they have sown. The magazines and newspapers cater to the left and right coasts and ignore the flyover’s needs and hence why they are failing.


31 posted on 10/29/2009 4:38:47 PM PDT by vetvetdoug (FUBO, a fashion statement for conservatives.)
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To: abb

http://www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=116307
Digital King: NBC Is No. 1 Network Online

http://newsosaur.blogspot.com/
Harvard hoedown ponder$ making $ in new$

http://cancelthebee.blogspot.com/
Tally of daily circulation losses at McClatchy newspapers

http://www.gannettoid.com/index.html
Gannett’s circulation report


32 posted on 10/29/2009 4:50:24 PM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

May they burn in he’ll.


33 posted on 10/29/2009 4:50:55 PM PDT by martin_fierro (Pun Retread)
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To: abb

WHERE’S vANILLA FUDGE ALBUM?

When I post the pics they are HUGH.ha.


34 posted on 10/29/2009 4:51:59 PM PDT by Recovering Ex-hippie (Pray for Israel! And Georgia ! And the Iranian people! and Honduras!)
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To: Recovering Ex-hippie

TIME Is Tight

35 posted on 10/29/2009 4:55:23 PM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: martin_fierro

Frozen in TIME

36 posted on 10/29/2009 5:04:49 PM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb
So this is why Joe Klein's panties are all in a bunch...
37 posted on 10/29/2009 5:07:46 PM PDT by CaptSkip
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To: abb

Wonder if the last story some of these “reporters” reported was the end of the recession with the uptick of the bogus GDP numbers...


38 posted on 10/29/2009 5:16:17 PM PDT by Mamzelle (Who is Kenneth Gladney? (Don't forget to bring your cameras))
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To: Eric in the Ozarks

I stopped reading Time around 1995 or so, around the same time I stopped reading Newsweek and US News and World Report.


39 posted on 10/29/2009 5:22:24 PM PDT by rlmorel (Obama, The Flatulence of One Thousand Black Dogs After Eating Boiled Eggs Be Upon Him...)
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To: Mamzelle

The Future of TIME

40 posted on 10/29/2009 5:24:16 PM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

We’re all socialists now...


41 posted on 10/29/2009 5:32:58 PM PDT by Mister Muggles
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To: abb

http://www.minnpost.com/braublog/2009/10/29/12967/another_minnesota_newspaper_pulls_back
Another Minnesota newspaper pulls back


42 posted on 10/29/2009 5:50:26 PM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb; All

HELP!

I have been searching all over the internet for the song...I think it was Vanilla Fudge that did it...maybe not.
The song slows down towards the end and then the group just sings the word Time, slowly again and again. Pretty sure its a Black Band of the late 60’s.

If no one can find it...I will be up all night!!!


43 posted on 10/29/2009 5:54:23 PM PDT by Recovering Ex-hippie (Pray for Israel! And Georgia ! And the Iranian people! and Honduras!)
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To: abb

THE GUESS WHO - No Time

(Randy Bachman and Burton Cummings)

(No time left for you) On my way to better things
(No time left for you) I found myself some wings
(No time left for you) Distant roads are callin’ me
(No time left for you) Da-un-da-un-da-un-da-un-da

No time for a summer friend
No time for the love you send
Seasons change and so did I
You need not wonder why
You need not wonder why
There’s no time left for you
No time left for you

(No time left for you) On my way to better things
(No time left for you) I found myself some wings
(No time left for you) Distant roads are callin’ me
(No time left for you) Day-un-day-un-day-un-day-un-day

No time for a gentle rain
No time for my watch and chain
No time for revolving doors
No time for the killin’ floor
No time for the killin’ floor
There’s no time left for you
No time left for you

No time for a summer friend
No time for the love you send
Seasons change and so did I
You need not wonder why
You need not wonder why
There’s no time left for you
No time left for you

No time, no time, no time, no time
No time, no time, no time, no time
I got, got, got, got no time
I got, got, got, got no time
I got, got, got, got no time
No-no-no, no-no-no, no time
No-no-no, no-no-no, no time
I got, got, got, got no time
No-no-no, no-no-no, no-no-no,
no-no-no, no-no-no, no-no-no, no time
I got no time, got no time, got no time, got no time, got no time


44 posted on 10/29/2009 5:55:10 PM PDT by Interesting Times (For the truth about "swift boating" see ToSetTheRecordStraight.com)
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To: Recovering Ex-hippie
The Chambers Brothers: Time Has Come Today Hey!
45 posted on 10/29/2009 5:57:12 PM PDT by Willie Green (Go Pat Go!!!)
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To: abb

Hadn’t seen an issue of Time in years until the other day and was amazed at how it had shrunk. What companies in this economy still pay for ads in these dying publications?


46 posted on 10/29/2009 5:58:53 PM PDT by kittymyrib
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To: Recovering Ex-hippie
I think this is the one you're thinking about. The Chambers Brothers.

TIME has Come Today


47 posted on 10/29/2009 5:59:22 PM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: Interesting Times

No TIME

48 posted on 10/29/2009 6:02:25 PM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: All

Fixing up all these pics and links to songs was quite a little project.

It is plain I have too much TIME on my hands...


49 posted on 10/29/2009 6:04:39 PM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: Recovering Ex-hippie
You'll want to see this little gem from when the group appeared on Ed Sullivan. Slightly different arrangement from the studio version. I like it better.

TIME has Come Today

50 posted on 10/29/2009 6:07:29 PM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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