Time Inc. Ads Fall Again, Unless You Count AmEx Acquisition
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Time Inc. revenue increased to $745 million in the first three months of this year, up 1% from the the period a year ago, parent Time Warner said Wednesday. Subscription dollars rose 5% to $270 million. Ad sales were essentially flat at $390 million.
But its year-over-year comparisons were helped, again, by the company’s acquisition of American Express Publishing last October. That brought magazines including Travel & Leisure and Food & Wine into a portfolio of brands isuch as Sports Illustrated, Fortune, InStyle and Time. Both Time and People published an additional issue in the first quarter, also helping lift revenue.
If you look only at continuing operations and don’t count the additional cash from American Express Publishing, revenue would have fallen 5%, with advertising down 7% and subscriptions flat.
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