Segment details:

—Publishing unit, which includes Time Inc: revenues dropped 18 percent ($204 million) to $914 million, due to declines of 22 percent ($129 million) in ad revenues and 13 percent ($49 million) in subscription revenues. Also, in Q409 outlook, the company confirmed it will take a $100 million charge as a result of Time Inc’s restructuring. The majority of layoffs will be done today.

—AOL unit revenues were down 23 percent ($235 million) to $777 million, resulting from a 29 percent decline ($138 million) in subscription revenues due to continued subscriber losses and an 18 percent decrease ($92 million) in ad revenues. The decline in ad revenues was due primarily to lower paid-search and display advertising on AOL Media, reduced sales of ads on third-party sites and the unfavorable impact of foreign exchange rates, it said. As of September 30, 2009, the AOL internet service had 5.4 million U.S. access subscribers, a decline of 438K from the prior quarter and 2.1 million from September 30, 2008.