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Time Inc. CEO Promises Less Free Content
Laura Lang, who took the reins as CEO of Time Inc. 10 months ago, sent a memo to staff Wednesday outlining how she plans to rescue the struggling company.
The magazine publisher witnessed a six percent decline in advertising revenue to $855 million in the first half of 2012, and a seven percent decrease year-over-year in subscription revenue to $581 million.
Lang, who previously served as CEO of ad agency Digitas, outlined a three-point "growth strategy" for Time Inc. -- focused on developing new advertising products, protecting paid content and developing a better content management system.
Although Lang didn't outline the "exciting suite of [ad] products" mentioned in the memo,…
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More About: Advertising, Media, Time Inc, laura lang, magazines, print
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