- Time Inc. (TIME +2%) is cutting back on its print -- both in circulation and in frequency of key magazine titles -- as it works to preserve profit at its longstanding brands.
- It intends to cut circulation of weekly Time magazine by a third, to 2M copies, in part by cutting back on promotional copies and focusing more on an ad-friendly core audience. It will cut circulation for People en Espanol as well.
- Meanwhile, seven other titles will come out less often, including Sports Illustrated, Entertainment Weekly and Fortune. In 2018, SI will publish 27 issues rather than this year's 38, but there will be 23% more editorial pages in each, on a weightier paper stock.
- The moves are effective Jan. 1.
- A revenue hit is expected, as the company will likely lower ad rates to make up for reduced circulation, but the bet is that expense savings will be bigger.
- After hours: TIME -0.7%.
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