Posted by: Jon Fine on October 23, 2006
Time Inc. Chairman-CEO Ann Moore was interviewed onstage today by Newsweek’s President Rick Smith while on a panel of industry CEOs. Near the end of the panel, Smith asked Moore if, perhaps, a different kind of ownership structure might work better for Time Inc.
She compared herself to Paul Pressler of the Gap and Rick Wagoner of General Motors: “There is so much short-term pressure on us… . It’s a tough road but that’s the job.” (Before she made that comment, she suggested her moves at Time inc. to prune the portfolio were reminiscent of what A.G. Lafley did at Procter & Gamble—shrinking product offerings and focusing on key brands.)
She also said, perhaps inevitably that “Time Inc. is not for sale.” (Though, of course, it wouldn’t necessarily be her call to make—in the same way that the potential sale of Tribune is not the way its Chairman-CEO Dennis FitzSimons wants it.)
Also noted: She said in the past year Time Inc. has seen a massive drop off in subscriptions from young men—which people at other magazines may respond is a problem specific to Time Inc, but it fits in with what she told me at last year’s American Magazine Conference about men’s reading habits in general.