New York, May 26, 2015 - Time Inc. (NYSE:TIME) announced today that it has acquired Missouri-based FanSided, a sports, entertainment and lifestyle network of more than 300 websites with thriving communities. Launched in 2009, FanSided is one of the industry's fastest growing independent digital content networks
Time Inc. Chairman and CEO, Joe Ripp said, "Our results and financial performance reflect progress in the fundamental re-engineering of our business, and in re-positioning the company for its return to growth. At the center of that transformation are Time Inc.'s extraordinary portfolio of media brands, engaged audiences and powerful story-telling.
CAPITAL: What's the most innovative thing Time Inc. is doing right now to market its brands to consumers?
BIGGAR: Honestly I don't think there's one thing...In our subscription business, I'm proud of the work we're doing to extend our brands. We're offering new tiers of membership for products like People and Time. We're marketing a number of new products like the Cooking Light Diet and the Cozi family product. Here in consumer marketing, we recently completed one of the largest consumer research studies I've been told Time Inc. has ever done in its history.
On Friday, Time Inc. will officially become a separate company, completing a spinoff from parent Time Warner that has been in the works for over a year. With a portfolio of more than 70 overseas and 23 domestic magazines - including Time, People and Sports Illustrated - Time Inc. has created a widely renowned publishing brand. But over the past decade, it has also suffered from an economic decline that reduced its revenues by 34% and cut its operating profit by 59%.
The magazine industry is getting off to a rocky start in 2014. While magazine ad pages declined in large part thanks to weakness in two key advertising categories, the tide also appears to have turned for tablet advertising, one of the lone bright spots in recent years.
Print magazine ad pages fell 4 percent in the first quarter of 2014, according to the latest report from the Publishers Information Bureau, a division of the MPA-The Association for Magazine Media.
Bon Appétit and Wired might seem like strange bedfellows. But when you consider the ever-growing intersection of food and science (think molecular gastronomy, hotly debated GMOs), the magazines’ plans to team up on food editorial content starts to make sense.
Some needed good news from the magazine publishing industry: As newsstand sales fell and circulation remained flat through the end of 2012, the latest data from GfK MRI's Survey of the American Consumer, which tracks print and digital magazine audiences, shows that overall readership among adults in the U.S. continued to grow between Spring 2012 and Spring 2013 while digital readership nearly doubled.
The spinoff of Time Inc. to create the world’s largest publicly traded magazine publisher may be just the beginning of deals for the owner of People and Sports Illustrated.
With analysts estimating an enterprise value of about $3.9 billion, Time Inc. would be bigger than any other publicly held company focused on magazine publishing after it separates from Time Warner Inc., according to data compiled by Bloomberg. Following a failed attempt to divest some magazines to Meredith Corp. (MDP), Time Inc. could buy Meredith, which is half its projected size, to consolidate costs, said Wunderlich Securities Inc.
When Jack Griffin, the former president of the magazine company Meredith, took the reins at Time Inc., he threw a holiday party for his staff on the 34th floor of the Time & Life Building. For many employees at the famously hierarchal company, their first visit to the rambling executive suites that inspired the sets of “Mad Men” became known as “The Miracle on 34th.”
Mr. Griffin lasted just six months at Time before he was asked to leave by Jeffrey L. Bewkes, the chief executive of its parent company, Time Warner publicly rebuked Mr. Griffin, saying that
Could Time Warner's loss be Condé Nast’s gain? Reports that the media giant is looking to combine its women's magazines with Meredith Corp.’s make some sense: Time Inc.’s lifestyle titles like Real Simple and Cooking Light could combine with Meredith’s own heartland magazines such as Better Homes and Gardens to make a women’s magazine powerhouse. One sticks out like a sore thumb, though, and that’s InStyle.
It's easy to see the value InStyle brings. Advertising by luxury brands is one of the few bright spots for magazines these days while their other mainstay ad categories like auto and pharma have stumbled.