Time Inc. (TIME) Stock Down, Centralizes Ad Sales
NEW YORK (TheStreet) -- Time Inc. (TIME) stock is down 0.84% to $16.49 after the company announced to staff today that it would be undergoing an executive reorganization.
The company will be centralizing all advertising sales under one executive, Mark Ford, the chief revenue officer of global advertising. As the company faces pressure from online competition and declining print revenue, it is looking to revamp its advertising business, the Wall Street Journal reports.
Time Inc. plans to refocus global advertising under three units, including one division that would be focused on selling ads across titles.
CEO Joe Ripp said that the management changes will let the New York-based publishing company unite advertising processes and find further advertising opportunities "critical" to the company's future.
Also, Chief Content Officer Norman Pearlstine will be replaced by Alan Murray, current editor of Fortune.
Separately, TheStreet Ratings rated this stock as a "hold" with a ratings score of C+.
The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins.
However, TheStreet Ratings finds weaknesses including disappointing return on equity, weak operating cash flow and a generally disappointing performance in the stock itself.
You can view the full analysis from the report here: TIME
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.