Media 19 Jan 2007 04:50 am
Time Inc. cut almost 300 jobs to cut costs and restructure the business for a new age where more and more people are sucking in content via the web. While some of the cuts make sense (People has an Austin, TX bureau?) they might be cutting off their nose to spite their face. Reportedly gone are Time magazine shutting down bureaus in Los Angeles, Chicago, Atlanta. What are they going to do rely on webloggers and CNN for coverage? All the action in the U.S. isn’t happening in New York and Washington. But don’t worry, there will still be plenty for the stringers.
If you’re in the mood Time, Inc. is selling Field & Stream, Parenting, and Popular Science. Get ‘m while they’re hot. No word if any private equity firms are interested. I’m half-way serious. They’re buying everything else.
Mind you, once reported by a cadre of correspondents and written by a staff writer in New York, it was edited (read: rewritten) by a senior editor and edited (yes, rewritten), by an assistant managing editor, and then edited (and, with surprising freqency, rewritten) by the managing editor. And then the research came along to try to correct all the errors this process inserted in the story.
We should be shocked they’ve survived as long as they have.