Speaking at a conference in New York City yesterday, Time Warner CEO Jeff Bewkes reiterated his support for the Time Inc. magazine division, suggesting that magazines didn’t face the kind of life-or-death challenge facing newspapers. Among his comments was this: “If we can’t take the leading [magazine] titles people have known for decades and make [...]
The Wall Street Journal’s Heard on the Street column says the the 35% drop in the Time Inc.’s third-quarter operating income, dragging down Time Warner’s overall growth, should bolster the case for a sale of (some or all) the magazines, lest the “sell-by” dates on these media properties expire. Time would likely fetch a premium [...]
Total compensation was comprised of: $1.25 million in salary, a $7 million bonus, $7.33 million in stock awards and $3.9 million in stock options. Outgoing ceo Richard Parsons earned a somewhat less rich total package of $18.6 million. The figures were reported in a proxy filed with the U.S. Securities and Exchange Commision. Bloomberg (Mar. [...]
The WSJ printed the complete text of the memo, which covered the big themes of Wednesday’s investor conference call: cost controls, splitting AOL’s businesses and a review of cable TV holdings. The Wall Street Journal (Feb. 8, 2008) Paid subscription may be required.
The cryptic quote from Time Warner’s new CEO Jeff Bewkes about the prospects of his company’s publishing business during Wednesday’s conference call is available here. Folio: (Feb. 7, 2008)
His other 2008 media predictions include: “daily” newsspapers doing away with slim, Saturday issues, additional music acts following Raidiohead’s lead and offering “pay-what-you-want” album downloads, and Wall Street Journal staffers conceding that News Corp. ownership hasn’t destroyed their paper. His last prediction devolves into a fantasy in which he pines for the U.S. Congress to pass [...]