“The reduction at the Time Warner publishing unit will follow cuts at other media companies and come a week before the parent's fourth-quarter earnings release, set for Feb. 6. The New York Times just undertook a buyout to eliminate 30 people from the newsroom; Thomson Reuters laid off 3,000 of 50,000 people across the company; and Meredith Corp. cut 60, or about 2 percent of its workforce, to name a few,” according to a report posted with Adweek . “Time Inc. made deep staff cuts in 2008 and 2009. But in the third quarter of 2012, publishing revenues declined 6 percent, in part reflecting a 6 percent decrease in subscription revenues and 5 percent decrease in advertising revenues. This round of cuts is expected to be felt across the board although it would seem that Sports Illustrated would be less impacted because it took steps to reduce staff over the summer.” Read more.
Just a decade ago, Time Corp. purchased the then leading powerhouse on the web: AOL. Ten years spans an eon in the digital business. A few years after the purchase of AOL, Microsoft became the industry's top dog. Google then usurped MS, and it appears that Facebook could overtake Google shortly. This has happened because people around the world are chasing after information, news, and entertainment on different media. In the time of AOL, low-speed dial-up dominated access to the newly created World Wide Web. With the introduction of high-speed access, AOL's role as an ISP vanished and Google took over. Once Mark Zuckerberg discovered that people prefer to gossip over the web rather than gather information and facts, he blew out Google with Facebook—especially with the ascent of mobile platforms. What's next?
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