Time, Inc. Considers Selling Assets as Part of $400 Million Cost Cutting
Time Inc.’s self-imposed strategic transformation has begun as it considers selling assets, including some of its magazines and its U.K. division, to cut costs and streamline operations, reports Media Post. This news isn’t surprising though. Time Inc., the publisher of Time, People, Life, Cooking Light and Sports Illustrated, has been struggling for some time. This spring, after exploring its options, the publisher publicly stated it was not for sale and would pursue its own strategic vision instead. In June, Time Inc. cut 300 jobs as part of the restructuring, blaming ‘public speculation’ for revenue declines.
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