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New York, October 29: : the Warner Bros movie studio and the HBO cable network, is among several media conglomerates dealing with a wider loss of advertising, the financial crisis and changing tastes of an ever more Internet-based public.
The company has been in talks about selling its AOL unit to Internet search and advertising company Yahoo Inc.
The moves at Time Inc will also allow the company to focus more on the Web versions of its big titles as more people get their news online.
In addition, the magazines will share more of their editorial talent. The New York Times pointed out one recent example -- Fortune columnist Allan Sloan's story about the financial crisis co-written for a recent issue of Time magazine with Fortune Managing Editor Andy Serwer.
THREE UMBRELLAS
Time plans to classify its 24 US magazines and Websites into three umbrellas, focusing on news, style and entertainment, and lifestyle properties. The latter group includes titles such as Cooking Light and Southern Living.
The editorial divisions will report to Time Inc Editor-in-Chief John Huey, while Martha Nelson will oversee the style and entertainment business unit.
In the business operations, Moore will run the style and entertainment magazines, while executive vice president John Squires will run the news business unit, including Time, the Fortune|Money Group and the Sports Illustrated group.
The lifestyle group will be run by Sylvia Auton, another executive vice president.
Consumer marketing and sales teams will report to Brian Wolfe, who was promoted to executive vice president. Kerry Bessey and Maurice Edelson both were promoted to executive vice presidents of Time Inc.
Time Inc also will create an advertising sales and marketing group to handle sales across all of Time's magazine brands, something Moore said was critical because of the difficult ad sales environment. The unit will be run by Stephanie George, also a Time executive vice president....
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