Writing in USA Today, Michael Wolff — who typically hates everything — finds a few things to love. Namely, Time Inc.’s magazines. He says that many of the company’s brands are attractive to buyers, who still see the value in print.
“While the huffers and puffers tell each other that digital media — with pitiful revenue and significant losses — is the future, print, even as a shadow of its former self, throws off major dough,” explains Wolff.
A snippet of which magazines would go where: Sunset and Southern Living to Meredith; InStyle to Hearst or Condé; Entertainment Weekly to The Hollywood Reporter; Sports Illustrated to ESPN; and Fortune to The Wall Street Journal. As for Time, Wolff claims that it “probably doesn’t have a happy fate.” People would end up a standalone business.
“Print is the hopeless past, but one left with enough cash flow to be somebody’s excellent future,” writes Wolff.
Update (9:38 am):
Edmund Lee, a media reporter for Bloomberg, tweeted the following in response to Wolff’s column: “@MichaelWolffNYC gets some facts wrong on @Time_Inc (PeopleMag had $636m in sales, not $1B) Casts doubt on other $.”