Time Warner To Dump All Magazine Titles

Time Warner is now seeking to sell off all of its most iconic magazine titles, the New York Times reported Wednesday.

The media conglomerate was already in talks with fellow publisher Meredith about selling most of the titles in its Time Inc. stable, but Time Warner was said to be keeping a hold on four major brands: Time, Sports Illustrated, Fortune and Money.

Now, the Times' Amy Chozick and Christine Haughney wrote, Time Warner wants to dispense with those too:

Time Warner still wants to complete the deal, but if talks fall through, the media giant could spin off Time Inc. on its own, without a partner, or keep its 21 magazines, the people said.

Time Warner had considered keeping the four news and sports magazines, which executives originally believed have synergies with its CNN cable channel. But the thinking on the magazines, which like the rest of the industry have faced industry-wide downturns in revenue, has changed, these people said. Read more >>

US is Becoming a Nation of Part-Time Workers

As today's NFP report once again showed, the average hourly earnings barely budged at $23.38 from $23.37 last month, and in fact declined on an inflation-adjusted basis. Why? Because as we [Zero Hedge] predicted both in February (and in 2010) the US is increasingly becoming a population of part-time workers, as full time jobs disappear for good, and are offshored abroad at best.

April confirmed everything we had been warning about: in the month, full time jobs dropped to 114,478 from 115,290, an epic drop of 812,000 in full time jobs which was the biggest since... March 2009! The offset? Why a surge in part-time jobs of course, which increased by 508,000 in the month of April.

So while seasonally adjusted, birth/death recasted jobs may have increased by 115,000, the real quality jobs, imploded, which unfortunately is merely a part of a longer-term secular trend as part of the new part-time normal. More...