PhotoSince the Meredith Corporation announced its $2.8 billion deal for Time Inc. in November, the company has hinted that it might not hold on to Time magazine, Sports Illustrated, Fortune and Money. Those titles, heavy with news, clashed with the company’s portfolio of lifestyle publications like Better Homes and Gardens, Family Circle and Allrecipes. “We love these brands and think they have great audiences,” Tom Harty, Meredith’s chief executive, said in an interview. The layoffs are part of the company’s plan to cut between $400 million and $500 million in costs over the next two years. The company has also said it planned to move some noneditorial Time Inc. functions to Des Moines, where Meredith is headquartered.

Source: New York Times March 21, 2018 21:45 UTC