Time Inc Rationalizing Portfolio as Q1 Shows Continued Decline

first_img Also Wednesday, CEO Rich Battista told investors that Time Inc. is investing in “an aggressive cost re-engineering program” along with “rationalizing” its portfolio — a phrase that usually refers to shutting or selling properties.  It’s a rocky start to 2017 for Time Inc., which last month appeared to have closed the door on acquisition discussions with multiple parties, at least for the time being. Meredith Corp. reportedly valued the company at $18 per share — below the $20 per share that Time Inc. supposedly sought. Time Inc.’s revenue declined by $54 million, or 8 percent, in the first three months of 2017, marking another quarter of contraction for the beleaguered but still giant publisher. Overall revenue for the quarter was $636 million, including $212 million from print advertising (down 21 percent from the same period in 2016) and $119 million from digital advertising, which increased by 32 percent. Circulation revenue also decreased by 14 percent, or $33 million, which the company attributed to changes in frequency across brands, as well as a consumer preference for digital media. Editor’s note: An earlier version of this story reported that Time Inc. had rejected an offer from Meredith Corp. Time Inc. has not confirmed that claim. View the company’s official statement here.center_img As Battista promised a brighter future, former CEO Joe Ripp said goodbye to yesterday. Ripp is leaving his role as executive chairman of Time Inc., as is board member Howard Stringer. Ripp is being replaced by John Fahey as non-executive chairman of the company. Dan Rosensweig, president and CEO of the learning platform Chegg, Inc., has also been nominated to the board.  Operating income was reported at a loss of $26 million, following decreases in revenues as well as large restructuring costs, to the tune of $16 million, that followed a year of layoffs and the resulting severance payments. In an earnings announcement Wednesday, the company also said that it has identified “non-core assets,” which it will begin to divest shortly. It’s not clear which assets will be sold, but the news of a potential selloff comes just days after Time Inc. said it would follow its own strategic plan instead of seeking a sale of the whole company. Shareholders responded unfavorably to Wednesday’s report, with shares dropping from $15.13 on Tuesday afternoon to $12.25 Wednesday morning. At press time, shares had stabilized around $13.08.last_img read more

VIDEO Watch Wilmington Recreation Departments Easter Parade

first_imgWILMINGTON, MA — The Wilmington Recreation Department’s held its 48th Annual Easter Egg Hunt — which turned into an Easter Parade due to the weather — on Saturday, April 20, 2019 at Wilmington High School.Hundreds of children paraded from the high school’s entrance to the cafeteria, where dozens of volunteers were waiting with eggs filled with candy.Wilmington Community Television was on hand to cover parade. Watch the short video below:—Video Playerhttps://s3.us-west-2.amazonaws.com/wilmington.castus-vod/vod/video/1a7ab4fb-014f-46b5-9b56-279a64eb7a20/video.original.mp400:0000:0008:60Use Up/Down Arrow keys to increase or decrease volume.—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… RelatedVIDEO: Watch ‘The Back Track Band’ Perform A Concert On The CommonIn “Videos”VIDEO: Watch ‘Jimmy & The Jesters’ Perform A Concert On The CommonIn “Videos”VIDEO: Highlights From Wilmington’s Tiny Tots/Kids Club ProgramIn “Videos”last_img read more

Shantanu Packs A Punch With The Target

first_imgEach chapter brings out sensational revelations that if taken into consideration and scrutinised individually could be vital in understanding the larger conspiracy.For the first time since the NSEL crisis engulfed the FTIL group, an investigation uncovers sensational revelations in the chronological narrative of ‘The Target’. This is the first time that explosive exposure regarding a powerful politician and an influential bureaucrat have come to the fore in the NSEL saga. Many a times in the past, former Finance Minister P Chidambaram’s name has been dragged with controversies surrounding market manipulations. This book has authenticated the degree of his interest in the business of stock exchanges. Also Read – Add new books to your shelfShantanu has combined his investigation with flashbacks of Jignesh Shah’s stardom. He has produced documentary evidence that adds merit to his research which went on for nearly two years. Each chapter brings out an observation that if taken into consideration and scrutinised individually could be vital in understanding the larger conspiracy. Through a seamless flow, the book brings out the core – how Chidambaram’s most favourite bureaucrat, K P Krishnan, in the Finance Ministry took the rising competition against NSE due to FTIL’s phenomenal rise as a potential threat to their interest. NSEL crisis was a smokescreen to the ulterior motive which was to obliterate FTIL group and Jignesh Shah’s innovative spirit. The crux of the book is the strategic planning to execute the hatched plot against Jignesh Shah and his group.  Also Read – Over 2 hours screen time daily will make your kids impulsiveThrowing in glimpses of the past, Shantanu describes Jignesh Shah as an unstoppable force who changed the dynamics of the financial markets. And, it became a catalyst for his downfall.From then on the book spirals into exposing the conspiracy by the political-bureaucratic-rival network that colluded so that Jignesh Shah who had effortlessly torn down NSE’s cartel and established a democratic market for all could be stripped off his innovative spirit. Planned strategic measures that fell into place one by one to entangle Jignesh Shah and his FTIL group in a web of conspiracy has been narrated explicitly.  One often wonders if not for this book, could anyone have imagined that the financial markets do run a parallel administration in the country.  Without any doubt, the protagonist of the book is Jignesh Shah. Shantanu draws parallels in Shah’s life from that of John Galt from Ayn Rand’s legendary novel ‘Atlas Shrugged’. John Galt dared to challenge the status quo of the existing system by standing up against those who tried to bring him down. In the end, like John Galt, Shah too revolutionised the system. Shah comes across a man who has been misconstrued because he defied popular perception by playing the odds and winning every time!last_img read more

The Internet of Things Will Have Arrived When You Dont Even Notice

first_img Opinions expressed by Entrepreneur contributors are their own. There are a lot of breathless predictions about the future of the Internet of Things, or IoT.According to the pundits, in the not-too-distant future we will live in smart homes and navigate our smart city streets to work in smart offices.  All along the way, big-data-driven algorithms will synthesize information across disparate inputs to make our lives easier by automatically controlling all sorts of widgets.According to industry-watchers, the IoT market has the potential to create an economic impact of $2.7 trillion to $6.2 trillion annually by 2025. Sixty-one percent of executives agree companies that are slow to integrate the IoT will fall behind the competition, and 96 percent of executives expect their business to be using the IoT in some respect by 2016.By 2022, a typical family home in a mature, affluent market could contain several hundred smart objects. That is, smart in the sense of gaining some level of sensing and intelligence combined with the ability to communicate wirelessly.Related: What the ‘Internet of Things’ Means for Enterprising EntrepreneursIn many cases, this cloud-based information will itself be informed by telemetry from other low-power and inexpensive devices, creating a cross-vendor virtuous cycle. Think of the sprinkler system that doesn’t come on in the morning because it knows it’s going to rain in two hours, and you start to get an idea of the potential impact the IoT can have.However, most of the “smart” devices of today are not much more than party tricks. They certainly won’t be the drivers of a billion-dollar revolution. If it’s going to live up to its promise, the IoT must be more than adding a smartphone-based remote control to an existing device.One of my favorite examples of a silly feature is a dishwasher that can be remotely started via a smart phone app. That’s great, but given the amount of physical interaction required to get a dishwasher ready for that step — loading the dishes, putting in the soap, closing the door, etc. — what benefit do consumers really get from walking away and starting the cycle from another device?For most devices, Internet connectivity just isn’t that compelling. Really: How much do I care about my hot water heater? I certainly don’t need regular communications with it. I just want to know that it’s working.Your users are already drowning in smartphone apps. With some limited exceptions in the area of lifestyle brands, they don’t want more. To fully exploit the promise of the IoT, companies of all types need to think about how to leverage a more subtle use of connectivity into compelling products and services. Resetting the lowly thermostat from my phone is fine, but what if I could receive a text alert when the house is too cold or too hot, when the furnace is running inefficiently or when the furnace filter needs to be changed?How about linking my thermostat into geofencing to set back the heat when everyone leaves based on smartphone location? It would be helpful if my thermostat could tie into demand response and offer me a discount if I allow my utility to shed electrical load at peak times.Related: 3 Industries Entrepreneurs Can Disrupt With the ‘Internet of Things’As for the the dishwasher, what if it automatically operated when electric rates are the lowest, alerted me when a drain is blocked or proactively scheduled recommended maintenance? Let’s not stop there. The manufacturer could periodically upgrade the software on my device to give me new features and the dishwasher could automatically order detergent from Amazon when it knows I’m running low, based on the number of cycles since the last purchase.For the strong projected growth to occur IoT technology must evolve the dynamic between people and their things in smart and interactive environments. Product designers and manufacturers have the opportunity to begin creating products that will enhance lives by allowing smart devices to not only interact with the user, but learn, respond, predict and communicate with other devices to understand what is needed before the user even knows.The IoT is quickly reaching the point at which the future visions promised in a Jetson-esque worldview are becoming realities. Companies that develop smart devices with autonomous operation that create additional value for the end user will be the most successful in the long run.Related: Want a Piece of the $33B-and-Growing ‘Internet-of-Things’ Market? Register Now » Growing a business sometimes requires thinking outside the box. 4 min read Free Webinar | Sept. 9: The Entrepreneur’s Playbook for Going Global January 22, 2015last_img read more

Your Apple Watch May Not Be as Safe as You Think

first_img The Apple Watch lacks a key feature other devices from the company have that help deter theft, one tech website found.Apple’s iOS devices have a feature called Activation Lock that basically prevents a person from completely wiping the device without the Apple ID and password of the original owner. This function is aimed at helping dissuade thieves from stealing a device in the first place because they can’t completely reset it.However, the Apple Watch OS 1.0 does not currently have this feature. So if someone gets their hands on your Apple Watch they are capable of completely resetting the device so that it can be paired with a new iPhone.As first mentioned in idownloadblog.com, this isn’t necessarily a problem from a data standpoint, but rather it’s a security problem because it makes the already highly desired smartwatch even more of a target for thieves since it can be easily wiped and resold clean.Apple didn’t respond to a request for comment.Read the full report on idownloadblog.com. Growing a business sometimes requires thinking outside the box. Register Now » Free Webinar | Sept. 9: The Entrepreneur’s Playbook for Going Global May 15, 2015 This story originally appeared on CNBC 1 min readlast_img read more