Time Inc. finally announced what has been expected for some time: the slimming of its magazine portfolio. The Time Warner unit is shedding some smaller niche brands; the 18 titles include The Parenting Group and most of the Time4 Media properties, among them Popular Science and Field & Stream. Not on the list: Golf, Golf.com and This Old House Ventures.
In the memo posted on Romenesko, Time Inc. CEO Ann Moore explains: “While these titles are good performers, Time Inc. is focusing its energy, resources and investment on our largest and most profitable brands, brands that have demonstrated an ability to draw large audiences in print and digital form. Our recent acquisition of Golf.com and greater investment in CNNMoney.com, SI.com, People.com, Time.com, InStyle.com and Time Inc. Interactive are evidence of this focused strategy. ... I am confident that the biggest brands in print, with our expertise and support, will develop into the biggest brands online. This strategy is already bearing fruit: SI.com and CNNMoney.com, for example will contribute significant amounts to the bottom line of their respective titles in 2006.”
—Golf and its online operation move to the SI group, bringing the online traffic for sports to 9 million monthly uniques.
—News of the move was reported first by AdAge.