Time inc CEO says they will cut costs by selling non-core assets

As part of an announcement about earnings, Time inc CEO, Rich Battista suggested it will cut costs by selling “non-core assets,” but did not give further details.

Yesterday In the earnings call Time Inc. said it had suffered a 21% drop in print advertising revenue.

The drop was due to “fewer advertising pages sold as a result of the continuing secular trend of advertisers shifting advertising spending from print to other media, lower average price per page of advertising sold and fewer issues served to customers, primarily due to a change in frequency,” according to a Time Inc. statement.

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