Meredith Announces Layoffs of 1,200 as Part of Time Inc. Acquisition
An aggressive strategy to integrate newly-acquired Time, Inc.
Less than two months after Meredith Corporationís (NYSE: MDP) acquisition of Time Inc. closed, Meredith announced an aggressive plan to integrate Time Inc. into its portfolio of media brands. The company is focused on four major initiatives: review media assets and sell off those not essential to Meredith's core business, improve advertising and circulation of Time Inc. properties, grow revenue and increase profits, and consolidate operations to save between $400 million and $500 million in the first two years.
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