Now that the lenders are in charge, all of the 3 former co-CEOs are history.
The new CEO is named Paul Caine (no relation to Herman). He has been with Time, Inc for about 20 years – currently he was Chief Revenue Officer (whatever that means…) and oversaw the operations of several magazines – People Magazine being the best known one.
There is a chance you may have heard recently that Time has decided to get out of the magazine business. First they tried to sell them, they decided last week to spin off the magazine business and focus on the Cable TV business – there is no future in paper magazines.
With progressive talk in free fall losing stations, my guess is he’ll quickly either try to sell off the talk business or shut it down. There isn’t an obvious buyer – Cumulus is a possibility. Dial Global owns the radio rights to NCAA sports and NFL football – that is probably where the future is.
Damn that Rush Limbaugh for boycotting progressive talk!
Yep…Rush is definitely responsible for all the carnage happening in talk radio. I suppose the bottom of the market has not been reached yet?
Maybe progressives need to persuade Stuart Smalley to come out of radio retirement. 😉