Time Inc. today announced the closure of women’s print publication All You. The monthly magazine, first printed in 2004, will continue operations until the end of the year, ceasing publication with the printing of its December issue.
Once sold exclusively at Walmart retail stores, All You features coupons, as well as recipes and how-to feature articles. After its distribution deal lapsed with Walmart in 2011, the publication became available at newsstands and via paid subscription.
The Wall Street Journal today reported that approximately “30 people will lose their jobs as a result of the closing of the magazine and its website,” according to an unnamed source.
In a memo to staff, Time Inc.’s Executive Vice President Evelyn Webster said the closure is a result of an “ongoing transformation of Time Inc.," where the magazine giant finds itself "constantly evaluating our portfolio of brands and products, examining existing assets and assessing their ability to deliver meaningful growth into the future."
The news comes the same day that Time Inc. announced it had made a hefty digital investment with its acquisition of female entertainment and lifestyle site HelloGiggles, which was founded by actress Zooey Deschanel.
Trump Media & Technology Group today reported a $58.2M net loss on $4.1M in 2023 revenues, a disclosure that drove its stock price down 22.6 percent to $47.96.
Barry Pollack, an attorney at Wall Street’s Harris St. Laurent & Wechsler, has registered Julian Assange as a client with the Justice Dept. “out of an abundance of caution.”
Paramount Global to slash 800 jobs in what chief executive Bob Bakish calls part of an effort to “return the company to earnings growth"... Rolling Stone editor-in-chief Noah Shachtman is exiting at the end of the month due to disagreements with chief executive Gus Wenner over the direction the magazine is taking... The New York Times broke the $1 billion barrier in annual revenue from digital subscriptions in 2023... Press Forward is investing more than $500 million to strengthen local newsrooms.
The majority of news articles are read within the first three days of publication, according to a recent report.
The Los Angeles Times gives pink slips to 115 people or 20 percent of its newsroom staff... TIME is also laying off about 30 employees, which is approximately 15 percent of its editorial staff... The Baltimore Banner, which was launched by Stewart Bainum in 2022 after he failed to buy the Baltimore Sun, added 500 subscribers per day in the three days following Sinclair Broadcast Group's deal to purchase the Sun.
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