Time Publishing slips into the red in the second quarter of 2017
The U.S. publishing company Time posted a loss of $44 million in the second quarter due to a decline in advertising revenue.
A year ago, Time had made a profit of 18 million dollars. Turnover fell by just under 10 percent to 694 million dollars. The publishing house announced that it would reduce its costs. This was reported by the news agency SDA on Tuesday.
Time Inc. is the largest publisher in the USA and publishes over a hundred magazines. Among the best known are Time, Sports Illustrated, Fortune and People.
