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Time Inc. wants to unload its British titles as part of its "strategic transformation plan" announced in August to cut costs by $400M.
The UK titles include New Musical Express, Wallpaper, Marie Claire UK, as well as 50 other publications.
Time Inc. CEO Rich Battista also wants to get rid of Time Customer Service Inc., the subscription management and fulfillment service center in Tampa, and majority stakes in Essence, Sunset, Coastal Living and Golf brands.
The targeted units represent about $500M in annual revenues.
Time suffered a $44M second quarter loss on a 10 percent decline in revenues to $694M
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Conservative outlets Fox News, Newsmax and the Daily Caller are holding back from signing Pete Hegseth’s edict restricting press access in the Pentagon... CBS News sees the first executive departure of the Bari Weiss era as head of standards and practices Claudia Milne exits... Indiana University shuts down the print version of The Indiana Daily Student.
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