Just in case everyone needed a reminder as to why Time Warner wants to ditch Time Inc.: The company’s earnings statement will jog your memory. While Time Warner raked in revenue of $6.94 billion for 2013’s first quarter, it would’ve been much better if not for Time Inc., which reported a five percent drop in overall revenue.
First quarter total revenue for Time Inc. is now at $737 million, compared to $773 million last year. That’s due to an 11 percent drop in subscription revenue and a 10 percent drop in “other” revenue.
For some reason, we’re getting a picture of Jeff Bewkes — instead of giving some big speech when Time Inc. spins off — simply standing in front of staffers and playing Genesis’ “Land of Confusion.”
It’s perfect. Really.