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Media giant Time Inc. has announced it will lay off as many as 300 workers in an attempt to cut costs and restructure the company — a move that CEO Richard Battista has described as “difficult but necessary.” The decision comes amidst falling levels of circulation of some of the company’s key magazines such as Time, Fortune and Sports Illustrated. As part of the savings, the company will now focus on investing in growing digital markets such as video and paid subscriptions. “We are taking a holistic approach to cost-structure re-engineering for the whole company,” Battista told CNN. “In commencing...

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Time Warner Inc. TWX +0.67% is in talks to divest most of its Time Inc. magazine group in a deal with Meredith Corp., MDP -0.13% said people familiar with the situation, potentially ending its long reign as the biggest U.S. magazine publisher. Under the proposal being discussed, Time Warner would retain its flagship newsweekly Time, along with Sports Illustrated and Fortune. But the rest of its magazines, including People, InStyle and Real Simple, would end up combined with Meredith's titles, which include Better Homes and Gardens and Family Circle, whose readers are mainly women. The proposal calls for both companies...

More bad news for Newt’s Gingrich’s foundering presidential campaign: His top two fundraisers have quit, bringing the count of deserters from his 2012 operation to a whopping 18, according to the AP. His fundraising is reportedly so anemic that the candidate has been reduced to giving up his corporate jets for commercial flights. (Hopefully they don’t seat him too far back.) Newt’s campaign so far looks like a pretty obvious fiasco. But only if you assume that victory was Newt’s exclusive goal. It’s also entirely possible that Gingrich–who has long demonstrated himself as a shrewd businessman and self-promoter–doesn’t mind lacking...

FULL TITLE - St. Petersburg Times' PolitiFact, Lane DeGregory win 2009 Pulitzer Prizes For the first time in its 125-year history, the St. Petersburg Times has won two Pulitzer Prizes in a single year. Staff writer Lane DeGregory, 42, captured the feature writing category for "The Girl in the Window," a moving account of a Plant City child whose mother kept her locked in a filthy room, and the adoptive family who worked to overcome her feral beginnings. The Times staff won the national reporting prize for PolitiFact, a Web site, database and "Truth-O-Meter'' that tests the validity of political...

The list of staffers downsized from Time Inc. yesterday grew by another 25 people, even though it appeared that CEO Ann Moore and Editor-in-Chief John Huey would wait until after Thanksgiving to begin this round of cuts. Fortune was the hardest-hit title. Including yesterday's layoffs, about 30 staffers have left the company rather than the expected 40, with about 22 from the edit side. Yesterday, three assistant managing editors were whacked: Eric Gellman, John Brodie and Brian Dumanie, who ran the recently shuttered Fortune Small Business. Two writers were also laid off, Suzanne Kapner and Telis Demos.

Signaling that worse times are ahead for magazines, Time Inc. is expected to announce next week that it will cut $100 million from costs, including another big round of layoffs. The timing is coordinated with parent company Time Warner’s third-quarter earnings announcement, sources said, scheduled for Wednesday morning. Time Inc., the publisher of titles like Time, Fortune, and People, has already cut costs dramatically: a year ago, it announced it was dismissing 6 percent of its work force, or about 600 people. That was apparently not enough to make up for revenue declines. The $100 million in costs is expected...

Note: Includes a photo. Note: The following text is a quote: THE BRIEFING ROOM • THE BLOG Wednesday, May 6th, 2009 at 7:55 pm What Is the Social Innovation Fund? Last night the First Lady discussed the Social Innovation Fund at the Time 100 Most Influential People Awards; we asked Michele Jolin, Senior Advisor for Social Innovation for the Domestic Policy Council, to tell us about it: Yesterday, the President announced that he would ask Congress in the FY2010 budget to provide $50 million in seed capital for his Social Innovation Fund, fulfilling a campaign pledge. The Fund will identify...

Time Magazine continues to lose ad pages despite its radical re-engineering of five months ago, and Fortune, Money and Business 2.0 have suffered double-digit advertising slides in the first half. But the decline of some of Time Inc.'s core print properties is an old story at the company. A more troubling issue is that even with traffic increasing at key Web sites and an all-hands-on-deck approach to reinventing itself as a multiplatform content company, ad revenue at the No. 1 magazine publisher grew only 1% in the second quarter. For a business under pressure, that's not good enough. Time Inc....

Fortune Magazine Portrays Hillary Clinton as Corporate Sweetheart Easton uses list of rich liberal donors to substantiate claim corporate America is betting on Clinton. By Jeff Poor Business & Media Institute After reading all 3,500 words from the July 9 Fortune magazine cover story, “Who business is betting on,” you might think it’s Democratic Presidential hopeful Sen. Hillary Clinton (D-N.Y.) According to the story, the liberal Clinton (who has a 95 percent liberal rating from the left’s Americans for Democratic Action) has assembled a parade of CEO endorsements – even from Republicans. Based on that, readers are supposed to believe...

Time Warner's Time Inc. subsidiary said Tuesday that it will end publication of Teen People magazine with its September issue, although the company said it will continue operating TeenPeople.com. "We're looking at…what makes sense for the Time Inc. portfolio," spokeswoman Ali Zelenko said. "We decided it made sense for this brand to live on on the Web." The move echoes similar moves elsewhere among teen-oriented titles. Hachette Filipacchi Media shuttered ELLEgirl magazine with its June/July issue, although it is continuing to operate the Web site www.ELLEgirl.com. In October 2004, Conde Nast Publications purchased the assets of teen-oriented YM and closed...

Should Patrick Fitzgerald decide to continue to pursue the 2 counts in the Libby indictment even though the Judge has found impeaching evidence in Time’s documents, I suggest Libby may want to use this evidence of Cooper’s journalistic malfeasance to further impeach him. The Haditha Scandal’s Other Casualty With the Pentagon completing its probe into whether U.S. forces massacred civilians one November morning in Western Iraq, the damage to America’s image abroad could take a further hit By MATTHEW COOPER/WASHINGTON Posted Friday, May. 26, 2006 In the original version of this story, TIME reported that “one of the most damning...

Time Magazine announced Wednesday that its Canadian news bureau would close on April 28th, a significant pullback for the popular newsweekly, which has long maintained a Canadian presence and published a Canadian edition of the magazine. The decision was attributed to financial pressure on the magazine stemming from difficulties in mother company Time Inc., which has recently announced several rounds of layoffs

Mid-Level Business Staffers Hit Hardest... Time Inc. eliminated another 250 jobs today in its latest, largest and, perhaps, last round of cutbacks. The mid-level and junior-level workers shown the door almost all came from the business side of operations at a long list of titles. "As Time Inc. continues to evolve from a magazine publisher to a multiplatform media company, we're continuing to look at our cost base and how to run our business more efficiently and effectively. In doing so, unfortunately, we've had to eliminate a number of positions." "But it's not just about cost cutting," Ms. Zelenko added...

TIME Inc. CEO Ann Moore is under pressure to come up with $100 million in cost savings next year, when more than one company insider expects a new bloodbath. One source said the new cuts could translate into 400 more job cuts early in 2006 — a number that accounts for 3 percent of the unit's 13,200-person workforce. Earlier this month, Moore announced 105 positions would be eliminated, including top executives across the publishing empire and six bureau chiefs at Time magazine. On the day of the announcement Moore pointedly would not tell senior staffers if the cuts were a...

NEW YORK - Time Inc. said Thursday it would comply with a court order to deliver the notes of a reporter threatened with jail in the investigation of the leak of an undercover CIA officer's name. U.S. District Judge Thomas Hogan is threatening to jail Matthew Cooper of Time and Judith Miller of The New York Times for contempt for refusing to disclose their sources. The Supreme Court on Monday refused to hear the reporters' appeal and the grand jury investigating the leak expires in October. The reporters, if in jail, would be freed at that time. In a statement,...

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<p>Want to read People magazine online? Soon, it might cost you.</p> <p>America Online and sister magazine publisher Time Inc. are discussing an agreement under which a substantial portion of the content on Time Inc.'s currently free Web sites could be transferred onto America Online's struggling proprietary service, company executives say.</p>