Time Inc Exits This Old House

This Old House (TOH), the 11 year old magazine and two accompanying television shows which make up This Old House Ventures was sold by Time Inc to the publication's former leader Erik Thorkilsen and a private equity firm according to the NY Post. This is good news for most of the 50+ staffers who according to the new owners, will be staying put. Chances are under Time Inc some of them would've been cut because the company has been focused on chasing the digital dollars for its sports, entertainment and style products since becoming independent.  Some say the needle point focus on those three areas left TOH out in the cold as little investment was being made in the publication and its staff. Mr. Thorkilsen said that Time Inc is at a point where TOH no longer fits with the company's game plan. However all this doesn't mean the publication and the TV shows weren't making money. Mr. Thorkilsen says that he and his partners are buying the company because it is making money,  $40 million in revenue to be exact. Mr. Thorkilsen says one of the first things he will do is role out some new digital offerings for the brand. No word on if a makeover is in the pipeline. Former Real Simple and Martha Stewart Living editor Susan Wyland will be Editor in Chief.


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