Time Inc. Will Slash Circulation, Print Less Often to Cut Costs
Facing what some insiders are predicting will be a dismal fourth quarter, Time Inc., in its latest cost-cutting move, said it will slash the circulation of Time and People en Español and reduce the frequency of Sports Illustrated, Fortune and four other titles in the company.
The moves are effective Jan. 1, and will cause a dip in revenue even as manufacturing costs are reduced.
That revenue shortfall will be partly offset if Time Inc. is successful in its latest quest to publish print titles for a number of digital companies. Said CEO Rich Battista, “We are engaged in conversations with several pure-play digital companies and exploring creating print magazines for their brands.”