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Time Inc Revenues Dipped 65 Percent in 2012

first_imgTime Warner released its 4Q and full-year 2012 financials today and the numbers give a peek at the what motivated Time Inc. CEO Laura Lang to cut 6 percent of the publishing division’s global work force. Topline for Time Inc. was down 6.5 percent for the year to $3.4 billion and operating income tumbled 25 percent to $420 million.In the fourth quarter, revenues were down 7 percent and operating income dipped 3 percent. In his remarks in the report, Time Warner CEO Jeff Bewkes noted Time Inc. still managed to increase its market share, based on PIB numbers, by about a half percentage point to 21.5 percent. Of the $241 million drop in revenues for the year, ad revenues dipped $104 million in 2012 and subscription revenues fell 5 percent, or $61 million. “Other” revenues fell 21 percent for the year, or $83 million, mainly attributable to the absence of the QSP fundraising business, which was sold in early 2012. While the advertising drop, as most publishers can attest to, was due to weak demand for magazine display marketing, the subscription revenue decrease is being primarily pinned on decreasing newsstand sales. The subscription revenue gap widened last year, it dipped—again because of the newsstand—2 percent in 2011. Nevertheless, in its earnings call, CFO John Martin noted that subsription revenues were flat in the fourth quarter and the ad revenue drop in that quarter was the smallest for the year. “The fourth quarter showed some signs of improvement,” he said.For its 2013 outlook, Martin noted that Time Inc. will take a $60 million restructuring charge related to the six percent workforce reduction. The impact will occur in the first quarter.last_img read more

WHS Class Of 1998 20th Reunion Announced

first_imgWILMINGTON, MA — Wilmington High School Class of 1998 is celebrating its 20th Class Reunion on Saturday, November 24, from 7pm to 11pm, at Luna Rossa (1699 Shawsheen Street, Tewksbury). Join us for great music, appetizers and a cash bar. Tickets, which cost $40, can be purchased HERE.(Do you know of any other Wilmington High or Shawsheen Tech reunions coming up? Email wilmingtonapple@gmail.com.)Like Wilmington Apple on Facebook. Follow Wilmington Apple on Twitter. Follow Wilmington Apple on Instagram. Subscribe to Wilmington Apple’s daily email newsletter HERE. Got a comment, question, photo, press release, or news tip? Email wilmingtonapple@gmail.com.Share this:TwitterFacebookLike this:Like Loading… RelatedWHS Class Of 1969 Announces 50th Reunion On September 14In “Education”WHS Class Of 1979 Announces 40th Reunion On September 21In “Education”WHS Class Of 1988 30th Reunion AnnouncedIn “Education”last_img read more

Rishabh Pant to be included in Indias World Cup squad Major update

first_imgKedar Jadhav’s Indian Premier League season might have come to an end, but this might not have a bearing on his World Cup participation as the selectors are willing to wait till the final hour to make a call on his availability. As per reports, the MSK Prasad-led committee believes that Jadhav’s injury might not be as serious as it was assumed earlier.As per the ICC’s playing conditions, teams can make a change to their preliminary squad for the World Cup until May 23, but Prasad’s panel wants to wait as close as possible to the deadline and as close to the Indian squad’s departure for the World Cup is concerned. Only if it warrants will they name a replacement for the right-hander.Selectors willing to wait till the last moment Kedar JadhavISHARA S. KODIKARA/AFP/Getty ImagesJadhav hurt his left shoulder last Sunday when he was playing against Kings XI Punjab in Mohali. Clutching his shoulder, he left the field immediately and did not make a return. CSK coach Stephen Fleming later confirmed that his season was over owing to the injury and that he would take no further part in the scheme of things.”Well, he is out for us, and then it is just about being accurate with that assessment. He was going through the scans and working with Patrick Farhart (the Indian team physiotherapist), so there’s obviously one eye now on the World Cup and getting him fit,” Fleming told the host broadcasters.”But from our point of view, he is certainly out of the tournament,” he further added. Virat Kohli and Kedar Jadhav.LAKRUWAN WANNIARACHCHI/AFP/Getty ImagesAs per a report from ESPNCricinfo, the selection panel has now received a report from Patrick Farhart which mentions that the middle-order batsman will recover and be fully fit before the Indian squad jets off for the World Cup on May 22. India take on South Africa in their first match of the marquee tournament on June 5.The selectors have already named a list of stand by players which include Rishabh Pant, Ambati Rayudu, Axar Patel, Navdeep Saini and Ishant Sharma. Also, young Navdeep Saini is also part of the quartet of fast bowlers who will be tagging along with the Indian team as net bowlers. This injury could well pace the way for Rishabh Pant, who has shown great form in the ongoing IPL and has found the backing of several former players and pundits.India’s squad for the World Cup: Virat Kohli (c), Rohit Sharma, Shikhar Dhawan, Vijay Shankar, MS Dhoni, Kedar Jadhav, Hardik Pandya, Ravindra Jadeja, Mohammed Shami, Kuldeep Yadav, Jasprit Bumrah, Yuzvendra Chahal, Bhuvneshwar Kumar, KL Rahul, Dinesh Karthik.last_img read more

William H Hargrave

first_imgWilliam H. HargraveSon of the late Richard Polard and Mrs. Roberta Beatrice-Bouldin, William Henry Hargrave was born on April 27, 1956 in Baltimore City, Md. He departed this life on June 9, 2016, after a lengthy illness.He graduated from Lake Clifton High School in Baltimore at the age of 19. He joined the United States Marine Corps from 1979 to 1989. He was awarded the Navy and Marine Corps Medal for Heroism after his honorable service with the military.He was a long-time employee of the AFRO. He was married to Melissa (divorced) and shared a wonderful relationship with Ms. Sharon Wann (deceased), Ms. Deborah Tallie for 37 years and Ms. Marquise Goodwin. William made numerous friends wherever he went and will be sincerely missed by everyone who knew him. He was always a true friend, a big brother and the head of his family.He leaves to mourn: his God-daughter Ameenah Vann Wilkins, four brothers – Rayvon Baxter, Thomas, Richard Hargrave (deceased), James Hargrave and nine sisters – Dolly Baxter (deceased, Jacksonville, N.C.), Louise Hall, Clara Lee, Eva Miller, Deborah Ulincy (Shenandoah, Pa.), Barbara Hall (Jacksonville, N.C.), Darlene Shaw, Denise Hargrave and Natasha Williams.He also leaves Aunt Dorothy of Albany, Ga., and a host of nieces, nephews, cousins and the AFRO family.last_img read more