The politics of Time Magazine are pretty much like all other liberal media outlets. All things Democrat are good, all things Republican are bad. Then they wonder why half of the country completely tunes them out.
Now they’re paying a heavy price. Time just laid off hundreds of people.
Time Inc. Cuts 300 Jobs as Struggling Publisher Seeks Turnaround
Time Inc. is eliminating 300 employees through layoffs or buyouts as the struggling publisher tries to transform its declining print business for the digital age.
The job cuts were announced in an internal memo written by Chief Executive Officer Rich Battista, who said a key component of his turnaround strategy is making the company more efficient and re-investing those resources in growth areas.
“Today we took a difficult but necessary step in that plan,” Battista said in the memo obtained by Bloomberg…
In April, Time announced that it was sticking with its online strategy rather than selling itself after months of negotiations with potential suitors like Meredith Corp. and a group that included Pamplona Capital Management and Jahm Najafi. New York-based Time was said to be holding out for more than $20 a share. The stock rose 0.5 percent to $13.975 on Tuesday.
Like other magazine publishers, Time is struggling to reinvent itself as print advertising dries up and the lion’s share of digital advertising dollars goes to Facebook Inc. and Google.
If they go out of business it will be the end of an American institution. Yet there won’t be many conservatives to shed a tear. Not after the way Time has treated Trump and countless other Republicans.