Time Inc. Board of Directors Recommits to Its Own ‘Strategic Plan’

Iconic company will not pursue a sale

Ahead of next month’s scheduled announcement of first-quarter results, Time Inc. today released a statement confirming that while it has recently evaluated a number of expressions of interest in the company, it has decided with the help of outside advisors to stay the non-acquisition course:

“Advertisers are looking for fewer, bigger partners,” said Time Inc. CEO and president Rich Battista. “Our unique combination of iconic brands and premium, safe content environments, large audiences across platforms and data and people-based targeting capabilities enables us to offer them differentiated solutions at scale.”

“Today, we have affirmed that we remain on track with our financial outlook for the year. I look forward to continuing to work with the Board and our extraordinarily talented team to deliver value to Time Inc.’s shareholders, consumers and advertising partners.”

The company says native advertising revenues doubled in 2016, while digital ad revenues are expected to pass more than $600 million in 2017.

Previously on Fishbowl:
Time Inc. Q4 Earnings Report Reveals Drop in Total Revenue, Increase in Digital

@hollywoodspin rhorgan@gmail.com Richard Horgan is co-editor of Fishbowl.