News Byte

Group Commerce Adds CBS to Its Offer Roster

Group Commerce, the year-old start-up that operates “white label” e-commerce services for big media companies, has another notch in its belt. The New York-based company is now powering offers for 29 CBS radio stations, bringing its roster total to 15 clients, including the New York Times and Meredith Corp. CEO Jonty Kelt says his company plans to add several dozen more clients this year as it starts working with smaller publishers.

Meredith Set to Buy Allrecipes From Reader’s Digest (Updated)

The magazine publisher will more than double its digital presence, by acquiring the world’s biggest food site.
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Time Inc. Magazines Make It to the Kindle Fire, After All

It took some haggling, but Time Warner’s publishing unit joins Hearst, Condé Nast and other big publishers on Amazon’s new tablet.
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Hearst Bids for Lagardère Magazines

Hearst Corp. has agreed with Lagardère SCA to pay nearly $900 million for the French media conglomerate’s international magazine portfolio, betting that a bigger share of magazine readers is the antidote to an uncertain advertising forecast for print publications.

Time Warner Fesses Up: Jack Griffin to Head Time Inc. "At the End of September"

Time Warner has finally sent out a press release announcing last week’s news: Meredith magazine head Jack Griffin will take over Ann Moore’s role as the head of Time Inc. The only news here is the timing: Moore will be running the show until “the end of September.” Like press releases? The whole thing is inside.

Time to Go: Time Warner Set to Swap Out Magazine Boss Ann Moore

Former Meredith Corp. CEO Jack Griffin is moving from Iowa to midtown Manhattan to run the world’s largest magazine company.

NBC: Our Local Stations Are Killing Us

Local television stations used to be money machines for the big media conglomerates. No more. GE’s NBC Universal says its revenues dropped three percent and that its operating profits were down six percent for the last three months of 2008, primarily because of weakness at its local TV stations.

How Much Worse Can the Ad Market Get? Just Wait.

Glad to see that Google had a decent quarter. But things look grim for everyone else who makes a living selling ads, and there’s plenty of lousy news to come. Just ask Meredith Corp., which says its local TV ads are down 40 percent this quarter.

Magazine Giant Meredith: Our Ads Are Lousy, Too

Why is Time Inc. planning on shedding six percent of its staff? The new numbers released by the magazine publisher behind titles like Ladies’ Home Journal offer a grim clue: Ad revenues are down 18 percent in the last year, and the next quarter looks equally bad.