As Offers Come Due This Week, Its Business as Usual For Time Inc's Bosses
COMPANY LOOKS TO CUT $100 MILLION IN COSTS THIS YEAR
Last week Time Inc informed potential suitors including Meredith Corp and an investment group lead by Edgar Bronfman Jr. that they need to make their best offers this week. But while Time Inc waits for those offers, its business as usual (as it should be) at the almost century old magazine publishing giant. CEO Rich Battista and his number two COO Jen Wong are focused on continuing to implement their plans for the company. Rich Battista is confident about the path the company is on and likes to tout the digital successes and updated ad capabilities every chance he gets. Though these things are no doubt a big part of Time Inc's future survival, Mr. Battista and Ms. Wong are not pushing print to curb. In fact some believe the true value of the company is still within the print magazines it was built on.
Time Inc. is now targeting $100 million in cost cuts this year, though it will not specify what parts of the company will be affected. The company expects revenue for this year to be roughly flat. Still, Mr. Battista and Ms. Wong are optimistic about Time Inc.’s future. They project that digital advertising revenue will reach $600 million this year and $1 billion in the coming years, and are confident that the company will return to growth.more»
As Offers Come Due This Week, Its Business as Usual For Time Inc's Bosses Reviewed by Editor on Sunday, March 05, 2017 Rating: