Wednesday, June 14, 2017

Time slashing 300 jobs

Time, Inc., which publishes Time, Sports Illustrated and Fortune, is eliminating 300 jobs.

This on the heels of a Meredith Corp. offer to buy time in April failed because the price was too low and activist hedge fund Jana Partners sold its substantial stake in Time, Inc.

Magazines, like newspapers, are losing circulation and advertisers to the Internet.

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