Time Warner’s Finance Chief Says Magazines Will Be Okay

The magazine business isn’t so bad, says John Martin, chief financial officer at Time Warner, the parent company of publisher Time Inc..

Dow Jones Newswires reports that Martin sees electronic distribution to devices like Apple’s iPad and Amazon’s Kindle may offer hope for magazines.

“We have a high degree of confidence that we can create that same dual revenue stream in an electronic way that we’ve enjoyed throughout our history in magazine publishing,” said Martin.

Time Inc., whose publications include Time (duh), Fortune and People, has like many publishing segments of media conglomerates, is one of the duller parts of Time Warner’s portfolio.

Still, Martin said, he believes that weakness in Time Inc.’s business has a lot do with the stagnant broader economy, and business should pick up pending a U.S. recovery.

Martin’s remarks yesterday accompany his company’s participation in the Magazine Publishing Association’s “Power of Print” campaign, a print-ad initiative with an estimated value of $90 million aimed at talking up print’s continued importance in an increasingly online world. Time Inc. CEO Ann Moore, along with other big-time publishing execs, appeared in a YouTube video, released today, to help kick off the campaign.