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On the same day that Time Inc. announced it will try to sell eighteen magazines — including Popular Science, Field & Stream, Outdoor Life and Parenting — the New York Times disclosed plans to peddle its Broadcast Media Group of nine television stations. "We will greatly miss our Broadcast colleagues," says the memo at Romenesko. He also has the Time magazines memo.
While these titles are good performers, Time Inc. is focusing its energy, resources and investment on our largest and most profitable brands, brands that have demonstrated an ability to draw large audiences in print and digital form. Our recent acquisition of Golf.com and greater investment in CNNMoney.com, SI.com, People.com, Time.com, InStyle.com and Time Inc. Interactive are evidence of this focused strategy....With these divestments, Time Inc. will have 132 magazines around the world and 32 in the U.S.
Today at LA Biz Observed: Mark Lacter was right about Angelo Mozilo: the head of Countrywide Financial is not retiring anytime soon. Also, Apple introduces its iTV and Northrop wins a big contract to build a wireless data network for New York City emergency services.