• Get involved.
    We want your input!
    Apply for Membership and join the conversations about everything related to broadcasting.

    After we receive your registration, a moderator will review it. After your registration is approved, you will be permitted to post.
    If you use a disposable or false email address, your registration will be rejected.

    After your membership is approved, please take a minute to tell us a little bit about yourself.
    https://www.radiodiscussions.com/forums/introduce-yourself.1088/

    Thanks in advance and have fun!
    RadioDiscussions Administrators

Time Inc to be sold to the Meredith corportation

RadioPatrol said:
http://variety.com/2017/digital/news/time-inc-meredith-publishing-firms-digital-scale-1202623734/

http://abcnews.go.com/Technology/wireStory/meredith-buying-time-18-billion-51407081

Update the purchase is at $1.8 Billion also if Time's Debt is included the total purchase will be at $2.8 Billion.
Click to expand...

The Koches will not have a seat on the Meredith board, per their request.

https://www.reviewjournal.com/news/...th-to-pay-about-1-8b-for-time-with-koch-help/

KVVU is the affected station in the Meredith/Time inc deal along with WFSB, WNEM, KPHO, KTVK and others.
Click to expand...

The TV stations will not be affected.
 
Meredith is a very well managed enterprise. I think Time will benefit from their management. Sadly, there will be a lot of cost cutting at the Time properties, and I expect a lot of the operations except for reporters who must be based in New York, to be severely cut. These cuts will be necessary though for the Time properties to endure. This deal ensures the viability of titles like Time, People and Fortune for some time to come.
 
https://nypost.com/2018/02/08/meredith-to-ax-700-time-inc-employees/

Meredith to cut 700 staff members due to the Meredith/Time Inc Deal

Less than a week after taking over Time Inc., Meredith is planning to ax 700 people in its Tampa, Fla., Time Customer Service center, Media Ink has learned.

Time Inc. tried unsuccessfully to sell it last year.

Meredith plans to phase out operations over the next year and transfer the work to an outside firm — CDS, owned by Hearst Corp.

The service center processes subscription renewals and direct mail for all Time titles, including Time, People, InStyle and Sports Illustrated — plus handled a limited number of outside clients, like Rolling Stone, National Geographic and Playboy.

“The anger here is beyond seething,” said one Tampa source, who said that after months of efforts, Time last year was closing in on a deal — when Meredith stepped into the picture in September with an offer to buy all of Time Inc. for $2.8 billion.

A Meredith spokesman confirmed the shutdown of the TCS center. “Simply, after careful evaluation, we thought it was in our best interests to move the acquired Time Inc titles to CDS Global, Meredith’s current fulfillment provider. We are pleased with CDS’ performance and will see significant savings.”
Click to expand...
 
Merideth owns WFSB-TV (CBS) channel 3 of Hartford and their sister service "CBS 3" for the Springfield, MA area. Let's see if anything changes on air.
 
WFSB’s CBS programming is hubbed from WGCL. It’s one of five Meredith stations hubbed from WGCL. The others are WSMV in Nashville, WHNS in Greenville SC, KCTV in Kansas City and WNEM in Flint MI. Doubtful anything significant will change.
 
Why would anything change on the TV side? The article RadioPatrol posted is about magazine fulfillment.
 
Status
This thread has been closed due to inactivity. You can create a new thread to discuss this topic.


Back
Top Bottom