Chapter 668
If audio player doesn't work, press Stop then Play button again
As early as 1922, Henry Luce, the "father of the times", and his alumni Brighton harden co founded time weekly. In the language style of "serious and orthodox" in newspapers and magazines, time quickly became one of the most popular and influential journals in the form of a weekly with both depth and timeliness.
After harden's death in 1929, Luce gradually established several magazine brands such as fortune, life and sports illustrated, which formed the time publishing company and became the world's largest publisher in the mid-1960s.
In January 1990, the representative of the most glorious era of the American publishing industry merged with Warner communications, and "Time Warner" was born. It was one of the largest media and entertainment groups in the world at that time.
Time Warner at that time could be called the product of the integration of American media groups. After acquiring Turner Broadcasting in 1996, Time Warner completed one of the largest acquisitions in the history of the 20th century.
In January 2000, the Internet star company American online announced that it had acquired time warner for us $181 billion and established AOL Time Warner. Magazines, television, Internet... All forms of media have been integrated into the world's largest media company.
In 2001, the new company quickly jumped from 271 to 37th in the ranking of the "Fortune 500".
But it is also the worst acquisition in history. In the 2000 stock market crash, the Internet bubble burst rapidly, and the online advertising business of AOL also plummeted. The dial-up Internet business was gradually eroded by broadband Internet companies.
The struggle for internal voice made the elephant group suffer heavy losses. In the first year of the merger, the company lost $4.9 billion, and in the second year, it recorded a loss of $98.7 billion, equivalent to the sum of the GDP of Chile and Vietnam. Within two years of the merger, the market value of the company shrank by $200 billion, becoming one of the biggest tragedies in modern financial history.
Finally, this huge media integration ended with separation. In 2008, Time Warner stripped off AOL business and then separated Time Warner Cable business, but the downward trend did not stop.
In the decline of the magazine industry in the United States, the challenge is Time Warner's magazine business. Now the revenue of the magazine business has been declining for 22 quarters.
Time Warner's internal demand to spin off this business so as not to drag down the whole has been very high. Otherwise, with Mark's ability, it can't easily convince this group of elite people. This is equivalent to that when a whore meets a prostitute, it can easily come true.
Richard, chairman and CEO of Time Warner, has always hoped that time warner will fully focus on the TV and film business, while time company will focus on its core printing business. Now the printing business is still a little ahead, but mark, who is used to making big money, can't see these small money and simply divest it in one piece.
The abandoned time company was once arrogant, but when it was stripped off, it was heavily in debt and shared Time Warner's debt of $1.3 billion. This figure is more than three times the annual profit of the times. Moody's, a rating agency, therefore gave time a negative rating.
"A company almost drained of oil and water", within a week after the split, Fortune magazine of time company made such a description, "although it is not heavily indebted, the times is indeed less flexible than rivals such as news Corporation, which not only had no debt but also got $2 billion in cash when it split last year."
Like most newspaper publishers, after a decline in advertising and subscriptions, time began to cut spending and close departments to let talented but also high paying journalists leave.
Magazines began to share resources, and editors worked with the Department of Commerce. Last year, time changed the editors of its magazines realsimple and InStyle, and the whole company laid off about 100 employees.
More symbolically, the time company recently moved from the time life building in Rockefeller Center to a featureless skyscraper in lower Manhattan.
"It's not what it used to be," said the editor who worked for time. "Unfortunately, they have the same name, but there's no relationship between the two."
Robert, the current CEO of time, has been entrusted with the task of revitalizing the whole company since September last year. He quickly turned time, people and sports magazines into a "multimedia" and "multi-functional" company: Although the printing business still accounts for two-thirds of the company's annual revenue of $3 billion, time's attention has long been diverted to other businesses. In the strategy of focusing on audio-visual entertainment, the magazine business has been lighter. The positioning of the whole company began to loosen, and it began to provide some paid services to readers, such as setting up wine and food clubs or selling pet insurance.
However, no matter how confident Robert is, he may not be able to save the sinking magazine empire. For decades, this magazine Empire, which has opened countless social topics in the United States and even in the world, seems extremely struggling at present.
Analysts and former employees believe that unprecedented challenges and missed opportunities make it more difficult for the company to adapt to the changing media environment.
Although it still causes some noise from time to time, the cover story of time can occasionally attract some attention.
Many people have high hopes for the strong settlement of the King Mark family, but mark is not interested in running magazines. He believes that the cost is too high, the profit is too low, and the labor cost remains high and rising, which makes everyone less interested in running this business.
Once, even strong politicians were proud to be on the cover of time magazine. The top ten people in the United States and the top ten people in the world attracted the most attention every year, but their advertising revenue decreased year by year. Like vanity fair, their revenue decreased year by year, and finally they couldn't even afford the Oscar night of vanity fair.
Mark still values several national magazines of time group and hopes to continue to hold them. However, they joined the strike without hesitation. Aircraft carriers without escort fleet cannot be called aircraft carrier battle groups. Today, these subsidiaries have been laid off, and even printing factories have been laid off. They will become rootless trees and eventually disappear.
Wall Street's Pengbo news agency reported: "the whole time warner paper sector has joined the strike, which will cause investors' concern and the stock market turmoil."
The major domestic news media reported the incident. Mark always did things unexpectedly. Only he could cut across the whole publishing business, and Mark's practice also made the domestic depressed publishing industry more difficult.
Recognized investment talents are not optimistic about the publishing industry. Mark is not only a well-known director and investment genius, but also a well-known best-selling author. His first pot of gold is the copyright fee of twilight. He has also become a world-famous best-selling author with twilight, and he is not optimistic about the future of the publishing industry.
In the United States, the sales of e-books on Amazon has exceeded the sales of physical books. Cooperating with e-commerce giants has become a choice that traditional publishers have to accept. The terrible thing about Amazon is not only the low price, but the industrial chain of the whole book market will be reshaped by e-reading.
The price war of e-books makes readers think that e-books should be sold at a low price. No matter how much market demand, publishers must accept the market pressure of continuous price reduction. For example, the hardcover paper version of Mark's work Twilight 3: Breaking Dawn is priced at ￡ 14.99, and the e-book price of the book in Pingguo store is ￡ 13.99, but the price of Amazon Bookstore is only ￡ 3.59, which finally forced Pingguo company to reduce the price to ￡ 4.99 per book.
The reading enthusiasm of American society has long been gone: "half of the book review pages of newspapers in the whole country, represented by the Sunday book review page of the Los Angeles Times, are not closed due to advertising, and the rest are even the New York Times The book review edition no longer has the authority in the past; in the radio programs, only the national public radio station is interested in books, and in the TV programs related to books, only Oprah is unique, but she and her readers only respond to life topics; various awards related to books, whether it is the American National Book Award, the American book critic award, the Pulitzer Prize and the Nobel Prize, plus Together, they can't catch up with Oprah's market appeal. "
The traditional Oumi publishing industry has always been an "industry of ideas". It respects intellectual values, aesthetic values and social values. The guiding nature of ideas is its soul. At that time, publishers believed that the concept of advance could only be accepted by a few people at the beginning, so it was natural that good books did not profit. With the passage of time, some concepts have gradually been widely recognized, and bestsellers are bound to be produced in publications, and their high profits can cover losses.
In other words, the publisher's job is to find new authors, make them classic, and continue to find new authors. In this way, a self-sufficient business can give birth to and preserve cultural creativity and spiritual values for the whole of mankind, which makes publishing an extraordinary sense of professional satisfaction.
Therefore, it is not difficult to explain why in the two or three hundred years before the 1980s, the annual profit margin of Oumi publishing industry was only 3% - 4%, even lower than the interest on bank deposits, and publishers can still enjoy it. Of course, it is not difficult to explain why publishing is called "gentleman's intention", because its original intention is not to make money. "
Perhaps, even such a stick that does not make money and enjoys itself may be unsustainable under the impact of transnational capital and technological revolution. But one thing is certain that a good publishing environment needs the joint construction of readers, practitioners and law enforcers.
No matter how complex and chaotic the environment is, there are always some values to advocate and some things to complete. Some people say that traditional publishing is a sunset industry. Others say that it has no way out, but there is no one like Mark who ruthlessly cuts off the publishing business like surgery. Time magazine: "mark has no right to sentence the publishing industry to death."
Please report us if you find any errors so we can fix it asap!
As early as 1922, Henry Luce, the "father of the times", and his alumni Brighton harden co founded time weekly. In the language style of "serious and orthodox" in newspapers and magazines, time quickly became one of the most popular and influential journals in the form of a weekly with both depth and timeliness.
After harden's death in 1929, Luce gradually established several magazine brands such as fortune, life and sports illustrated, which formed the time publishing company and became the world's largest publisher in the mid-1960s.
In January 1990, the representative of the most glorious era of the American publishing industry merged with Warner communications, and "Time Warner" was born. It was one of the largest media and entertainment groups in the world at that time.
Time Warner at that time could be called the product of the integration of American media groups. After acquiring Turner Broadcasting in 1996, Time Warner completed one of the largest acquisitions in the history of the 20th century.
In January 2000, the Internet star company American online announced that it had acquired time warner for us $181 billion and established AOL Time Warner. Magazines, television, Internet... All forms of media have been integrated into the world's largest media company.
In 2001, the new company quickly jumped from 271 to 37th in the ranking of the "Fortune 500".
But it is also the worst acquisition in history. In the 2000 stock market crash, the Internet bubble burst rapidly, and the online advertising business of AOL also plummeted. The dial-up Internet business was gradually eroded by broadband Internet companies.
The struggle for internal voice made the elephant group suffer heavy losses. In the first year of the merger, the company lost $4.9 billion, and in the second year, it recorded a loss of $98.7 billion, equivalent to the sum of the GDP of Chile and Vietnam. Within two years of the merger, the market value of the company shrank by $200 billion, becoming one of the biggest tragedies in modern financial history.
Finally, this huge media integration ended with separation. In 2008, Time Warner stripped off AOL business and then separated Time Warner Cable business, but the downward trend did not stop.
In the decline of the magazine industry in the United States, the challenge is Time Warner's magazine business. Now the revenue of the magazine business has been declining for 22 quarters.
Time Warner's internal demand to spin off this business so as not to drag down the whole has been very high. Otherwise, with Mark's ability, it can't easily convince this group of elite people. This is equivalent to that when a whore meets a prostitute, it can easily come true.
Richard, chairman and CEO of Time Warner, has always hoped that time warner will fully focus on the TV and film business, while time company will focus on its core printing business. Now the printing business is still a little ahead, but mark, who is used to making big money, can't see these small money and simply divest it in one piece.
The abandoned time company was once arrogant, but when it was stripped off, it was heavily in debt and shared Time Warner's debt of $1.3 billion. This figure is more than three times the annual profit of the times. Moody's, a rating agency, therefore gave time a negative rating.
"A company almost drained of oil and water", within a week after the split, Fortune magazine of time company made such a description, "although it is not heavily indebted, the times is indeed less flexible than rivals such as news Corporation, which not only had no debt but also got $2 billion in cash when it split last year."
Like most newspaper publishers, after a decline in advertising and subscriptions, time began to cut spending and close departments to let talented but also high paying journalists leave.
Magazines began to share resources, and editors worked with the Department of Commerce. Last year, time changed the editors of its magazines realsimple and InStyle, and the whole company laid off about 100 employees.
More symbolically, the time company recently moved from the time life building in Rockefeller Center to a featureless skyscraper in lower Manhattan.
"It's not what it used to be," said the editor who worked for time. "Unfortunately, they have the same name, but there's no relationship between the two."
Robert, the current CEO of time, has been entrusted with the task of revitalizing the whole company since September last year. He quickly turned time, people and sports magazines into a "multimedia" and "multi-functional" company: Although the printing business still accounts for two-thirds of the company's annual revenue of $3 billion, time's attention has long been diverted to other businesses. In the strategy of focusing on audio-visual entertainment, the magazine business has been lighter. The positioning of the whole company began to loosen, and it began to provide some paid services to readers, such as setting up wine and food clubs or selling pet insurance.
However, no matter how confident Robert is, he may not be able to save the sinking magazine empire. For decades, this magazine Empire, which has opened countless social topics in the United States and even in the world, seems extremely struggling at present.
Analysts and former employees believe that unprecedented challenges and missed opportunities make it more difficult for the company to adapt to the changing media environment.
Although it still causes some noise from time to time, the cover story of time can occasionally attract some attention.
Many people have high hopes for the strong settlement of the King Mark family, but mark is not interested in running magazines. He believes that the cost is too high, the profit is too low, and the labor cost remains high and rising, which makes everyone less interested in running this business.
Once, even strong politicians were proud to be on the cover of time magazine. The top ten people in the United States and the top ten people in the world attracted the most attention every year, but their advertising revenue decreased year by year. Like vanity fair, their revenue decreased year by year, and finally they couldn't even afford the Oscar night of vanity fair.
Mark still values several national magazines of time group and hopes to continue to hold them. However, they joined the strike without hesitation. Aircraft carriers without escort fleet cannot be called aircraft carrier battle groups. Today, these subsidiaries have been laid off, and even printing factories have been laid off. They will become rootless trees and eventually disappear.
Wall Street's Pengbo news agency reported: "the whole time warner paper sector has joined the strike, which will cause investors' concern and the stock market turmoil."
The major domestic news media reported the incident. Mark always did things unexpectedly. Only he could cut across the whole publishing business, and Mark's practice also made the domestic depressed publishing industry more difficult.
Recognized investment talents are not optimistic about the publishing industry. Mark is not only a well-known director and investment genius, but also a well-known best-selling author. His first pot of gold is the copyright fee of twilight. He has also become a world-famous best-selling author with twilight, and he is not optimistic about the future of the publishing industry.
In the United States, the sales of e-books on Amazon has exceeded the sales of physical books. Cooperating with e-commerce giants has become a choice that traditional publishers have to accept. The terrible thing about Amazon is not only the low price, but the industrial chain of the whole book market will be reshaped by e-reading.
The price war of e-books makes readers think that e-books should be sold at a low price. No matter how much market demand, publishers must accept the market pressure of continuous price reduction. For example, the hardcover paper version of Mark's work Twilight 3: Breaking Dawn is priced at ￡ 14.99, and the e-book price of the book in Pingguo store is ￡ 13.99, but the price of Amazon Bookstore is only ￡ 3.59, which finally forced Pingguo company to reduce the price to ￡ 4.99 per book.
The reading enthusiasm of American society has long been gone: "half of the book review pages of newspapers in the whole country, represented by the Sunday book review page of the Los Angeles Times, are not closed due to advertising, and the rest are even the New York Times The book review edition no longer has the authority in the past; in the radio programs, only the national public radio station is interested in books, and in the TV programs related to books, only Oprah is unique, but she and her readers only respond to life topics; various awards related to books, whether it is the American National Book Award, the American book critic award, the Pulitzer Prize and the Nobel Prize, plus Together, they can't catch up with Oprah's market appeal. "
The traditional Oumi publishing industry has always been an "industry of ideas". It respects intellectual values, aesthetic values and social values. The guiding nature of ideas is its soul. At that time, publishers believed that the concept of advance could only be accepted by a few people at the beginning, so it was natural that good books did not profit. With the passage of time, some concepts have gradually been widely recognized, and bestsellers are bound to be produced in publications, and their high profits can cover losses.
In other words, the publisher's job is to find new authors, make them classic, and continue to find new authors. In this way, a self-sufficient business can give birth to and preserve cultural creativity and spiritual values for the whole of mankind, which makes publishing an extraordinary sense of professional satisfaction.
Therefore, it is not difficult to explain why in the two or three hundred years before the 1980s, the annual profit margin of Oumi publishing industry was only 3% - 4%, even lower than the interest on bank deposits, and publishers can still enjoy it. Of course, it is not difficult to explain why publishing is called "gentleman's intention", because its original intention is not to make money. "
Perhaps, even such a stick that does not make money and enjoys itself may be unsustainable under the impact of transnational capital and technological revolution. But one thing is certain that a good publishing environment needs the joint construction of readers, practitioners and law enforcers.
No matter how complex and chaotic the environment is, there are always some values to advocate and some things to complete. Some people say that traditional publishing is a sunset industry. Others say that it has no way out, but there is no one like Mark who ruthlessly cuts off the publishing business like surgery. Time magazine: "mark has no right to sentence the publishing industry to death."
As early as 1922, Henry Luce, the "father of the times", and his alumni Brighton harden co founded time weekly. In the language style of "serious and orthodox" in newspapers and magazines, time quickly became one of the most popular and influential journals in the form of a weekly with both depth and timeliness.After harden's death in 1929, Luce gradually established several magazine brands such as fortune, life and sports illustrated, which formed the time publishing company and became the world's largest publisher in the mid-1960s.In January 1990, the representative of the most glorious era of the American publishing industry merged with Warner communications, and "Time Warner" was born. It was one of the largest media and entertainment groups in the world at that time.Time Warner at that time could be called the product of the integration of American media groups. After acquiring Turner Broadcasting in 1996, Time Warner completed one of the largest acquisitions in the history of the 20th century.In January 2000, the Internet star company American online announced that it had acquired time warner for us $181 billion and established AOL Time Warner. Magazines, television, Internet... All forms of media have been integrated into the world's largest media company.In 2001, the new company quickly jumped from 271 to 37th in the ranking of the "Fortune 500".But it is also the worst acquisition in history. In the 2000 stock market crash, the Internet bubble burst rapidly, and the online advertising business of AOL also plummeted. The dial-up Internet business was gradually eroded by broadband Internet companies.The struggle for internal voice made the elephant group suffer heavy losses. In the first year of the merger, the company lost $4.9 billion, and in the second year, it recorded a loss of $98.7 billion, equivalent to the sum of the GDP of Chile and Vietnam. Within two years of the merger, the market value of the company shrank by $200 billion, becoming one of the biggest tragedies in modern financial history.Finally, this huge media integration ended with separation. In 2008, Time Warner stripped off AOL business and then separated Time Warner Cable business, but the downward trend did not stop.In the decline of the magazine industry in the United States, the challenge is Time Warner's magazine business. Now the revenue of the magazine business has been declining for 22 quarters.Time Warner's internal demand to spin off this business so as not to drag down the whole has been very high. Otherwise, with Mark's ability, it can't easily convince this group of elite people. This is equivalent to that when a whore meets a prostitute, it can easily come true.Richard, chairman and CEO of Time Warner, has always hoped that time warner will fully focus on the TV and film business, while time company will focus on its core printing business. Now the printing business is still a little ahead, but mark, who is used to making big money, can't see these small money and simply divest it in one piece.The abandoned time company was once arrogant, but when it was stripped off, it was heavily in debt and shared Time Warner's debt of $1.3 billion. This figure is more than three times the annual profit of the times. Moody's, a rating agency, therefore gave time a negative rating."A company almost drained of oil and water", within a week after the split, Fortune magazine of time company made such a description, "although it is not heavily indebted, the times is indeed less flexible than rivals such as news Corporation, which not only had no debt but also got $2 billion in cash when it split last year."Like most newspaper publishers, after a decline in advertising and subscriptions, time began to cut spending and close departments to let talented but also high paying journalists leave.Magazines began to share resources, and editors worked with the Department of Commerce. Last year, time changed the editors of its magazines realsimple and InStyle, and the whole company laid off about 100 employees.More symbolically, the time company recently moved from the time life building in Rockefeller Center to a featureless skyscraper in lower Manhattan."It's not what it used to be," said the editor who worked for time. "Unfortunately, they have the same name, but there's no relationship between the two."Robert, the current CEO of time, has been entrusted with the task of revitalizing the whole company since September last year. He quickly turned time, people and sports magazines into a "multimedia" and "multi-functional" company: Although the printing business still accounts for two-thirds of the company's annual revenue of $3 billion, time's attention has long been diverted to other businesses. In the strategy of focusing on audio-visual entertainment, the magazine business has been lighter. The positioning of the whole company began to loosen, and it began to provide some paid services to readers, such as setting up wine and food clubs or selling pet insurance.However, no matter how confident Robert is, he may not be able to save the sinking magazine empire. For decades, this magazine Empire, which has opened countless social topics in the United States and even in the world, seems extremely struggling at present.Analysts and former employees believe that unprecedented challenges and missed opportunities make it more difficult for the company to adapt to the changing media environment.Although it still causes some noise from time to time, the cover story of time can occasionally attract some attention.Many people have high hopes for the strong settlement of the King Mark family, but mark is not interested in running magazines. He believes that the cost is too high, the profit is too low, and the labor cost remains high and rising, which makes everyone less interested in running this business.Once, even strong politicians were proud to be on the cover of time magazine. The top ten people in the United States and the top ten people in the world attracted the most attention every year, but their advertising revenue decreased year by year. Like vanity fair, their revenue decreased year by year, and finally they couldn't even afford the Oscar night of vanity fair.Mark still values several national magazines of time group and hopes to continue to hold them. However, they joined the strike without hesitation. Aircraft carriers without escort fleet cannot be called aircraft carrier battle groups. Today, these subsidiaries have been laid off, and even printing factories have been laid off. They will become rootless trees and eventually disappear.Wall Street's Pengbo news agency reported: "the whole time warner paper sector has joined the strike, which will cause investors' concern and the stock market turmoil."The major domestic news media reported the incident. Mark always did things unexpectedly. Only he could cut across the whole publishing business, and Mark's practice also made the domestic depressed publishing industry more difficult.Recognized investment talents are not optimistic about the publishing industry. Mark is not only a well-known director and investment genius, but also a well-known best-selling author. His first pot of gold is the copyright fee of twilight. He has also become a world-famous best-selling author with twilight, and he is not optimistic about the future of the publishing industry.In the United States, the sales of e-books on Amazon has exceeded the sales of physical books. Cooperating with e-commerce giants has become a choice that traditional publishers have to accept. The terrible thing about Amazon is not only the low price, but the industrial chain of the whole book market will be reshaped by e-reading.The price war of e-books makes readers think that e-books should be sold at a low price. No matter how much market demand, publishers must accept the market pressure of continuous price reduction. For example, the hardcover paper version of Mark's work Twilight 3: Breaking Dawn is priced at 14.99, and the e-book price of the book in Pingguo store is 13.99, but the price of Amazon Bookstore is only 3.59, which finally forced Pingguo company to reduce the price to 4.99 per book.The reading enthusiasm of American society has long been gone: "half of the book review pages of newspapers in the whole country, represented by the Sunday book review page of the Los Angeles Times, are not closed due to advertising, and the rest are even the New York Times The book review edition no longer has the authority in the past; in the radio programs, only the national public radio station is interested in books, and in the TV programs related to books, only Oprah is unique, but she and her readers only respond to life topics; various awards related to books, whether it is the American National Book Award, the American book critic award, the Pulitzer Prize and the Nobel Prize, plus Together, they can't catch up with Oprah's market appeal. "The traditional Oumi publishing industry has always been an "industry of ideas". It respects intellectual values, aesthetic values and social values. The guiding nature of ideas is its soul. At that time, publishers believed that the concept of advance could only be accepted by a few people at the beginning, so it was natural that good books did not profit. With the passage of time, some concepts have gradually been widely recognized, and bestsellers are bound to be produced in publications, and their high profits can cover losses.In other words, the publisher's job is to find new authors, make them classic, and continue to find new authors. In this way, a self-sufficient business can give birth to and preserve cultural creativity and spiritual values for the whole of mankind, which makes publishing an extraordinary sense of professional satisfaction.Therefore, it is not difficult to explain why in the two or three hundred years before the 1980s, the annual profit margin of Oumi publishing industry was only 3% - 4%, even lower than the interest on bank deposits, and publishers can still enjoy it. Of course, it is not difficult to explain why publishing is called "gentleman's intention", because its original intention is not to make money. "Perhaps, even such a stick that does not make money and enjoys itself may be unsustainable under the impact of transnational capital and technological revolution. But one thing is certain that a good publishing environment needs the joint construction of readers, practitioners and law enforcers.No matter how complex and chaotic the environment is, there are always some values to advocate and some things to complete. Some people say that traditional publishing is a sunset industry. Others say that it has no way out, but there is no one like Mark who ruthlessly cuts off the publishing business like surgery. Time magazine: "mark has no right to sentence the publishing industry to death."
