US media group Time Inc. opts to stay independent
US media group Time Inc. opts to stay independent: US magazine publisher Time Inc. said Friday it plans to remain independent as it shifts to a “multi-platform media marketplace,” dismissing speculation of a sale or merger.
The company known for Time magazine, Sports Illustrated, Fortune and People magazine was spun off from media-entertainment group Time Warner — parent of CNN, HBO and the Warner Bros. studios — in 2014, following a trend of other conglomerates shedding publishing operations.
A Time Inc. statement said it had not sought any strategic tie-up but had “evaluated a number of expressions of interest” before decided to stick with its plan.
“Time Inc. is one of the world’s leading multi-platform media companies, engaging over 170 million US consumers across digital and print every month through a portfolio of premium, iconic brands,” said a statement from the lead independent director on its board, John Fahey.
“We strongly believe in the future and potential of this company. The board has full confidence in Time Inc. president and CEO Rich Battista and the management team to execute on the strategic plan.”
The plan includes boosting digital readership and advertising, expanding and diversifying its offerings in broadcast and other platforms. and refining its data and targeting of audiences.
“Time Inc. is a reinvigorated company uniquely positioned to succeed in the multi-platform media marketplace with an exceptional set of brands and assets, tremendous scale and significant untapped potential,” Battista said.
“The company is better positioned to capitalize on this potential with its recent shift from a siloed, legacy publishing structure, to an integrated, enterprise platform structure.”
Shares in Time, which had risen some 32 percent since November on merger speculation, tumbled 18 percent to $14.98 in midday trade on Wall Street.
Like other legacy media groups, Time has struggled as more readers shift to digital platforms, where revenues are more difficult.
The group reported a net loss of $48 million for 2016 on revenues which dipped one percent to $3.08 billion, amid declines in print advertising.
About HumSub TV
Introduction
HumSub TV is Pakistan’s leading forwarding-thinking, edutainment channel, aimed at promoting and upholding peace, interfaith harmony and social responsibility within Pakistan through informative and insightful programmes and documentaries; analytical interviews on issues pertaining to social, economic, legal and environmental set-up; dedicated shows to canvass and thereby promote the culture and heritage of Pakistan and in-depth coverage of national and international news.
HumSub TV is the first channel and thus a pioneer within its own right that mainly focuses on emphasising the “Rights” as well as the “Obligations” of the citizens in light of the Constitution of Pakistan, numerous International declarations signed by the Government and various laws that have been promulgated over the years but are not in the knowledge of the common citizen.
HumSub TV also aims to enter into bilateral agreements with other countries to promote not only their culture, heritage and tourism, but also their educational and medical facilities.
Following the successful launch of HumSub TV’s head office in Blue Area, Islamabad; the bureau office has been set up in Lahore.
Vision
To project positive image building of Pakistan and inculcate nationalism, as per the vision of the founder of the nation, Quaid-e-Azam Mohammad Ali Jinnah.
Mission
HumSub TV is resolute about the promotion of a pluralistic, inclusive and egalitarian society in Pakistan where all citizens are allowed to contribute to promote interfaith harmony, peace and collective wisdom in the social, political and economic development of Pakistan and to encourage critical and lateral thinking in the society. HumSub TV strives to make a positive contribution to this end.
HumSub TV’s Theme
HumSub TV, Pakistan’s first EDUTAINMENT Channel, has been set up for not only those audience residing in Pakistan or overseas but the international community on the whole. The vision of the channel is to project positive image building of Pakistan and inculcate nationalism as per the vision of the founder of the nation.
HumSub TV strives to make a positive contribution to this end by promoting pluralism, inclusiveness and egality in Pakistan and give voice to the suppressed. It endeavors to act as a positive catalyst for social change and Pakistani nationalism. It envisions providing a platform for airing critical and lateral thinking and collective wisdom by inviting positive minded intellectuals and opinion forming individuals for the promotion of interfaith harmony and peace in the social, political and economic development of Pakistan.
Whereas the channel airs upbeat edutainment programmes, it, nonetheless, has the primary objective of countering negative anti-Pakistan regional and international propaganda as well as advancing fundamental rights as encapsulated in the Constitution of Pakistan.
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