Company ramps up digital transformation as print business continues to slow, brings on Fox TV Studios chief Emiliano Calemzuk to develop online video content, wants to be nimble
Time Inc shared its third quarter report card which it is obligated to do now that it is a public company (duh) to update its shareholders/investors and the public on how it is doing or did for a quarter. While revenue at the company ticked up by a hair, circulation and newsstand revenue continues to struggle. Board member Howard Stringer may not be sure about the company's efforts but CEO Joe Ripp has nothing but confidence, and is betting big on digital.
“We remain confident in our plans to drive large-scale transformation as we extend our powerful brands across platforms,” Mr. Ripp said, “work to develop adjacent business opportunities, and move toward a leaner and more nimble operating model.”
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