'Time' to Cut Rate Base, Drop Editions

Cost-Saving Move Will Put Base at 3.25 Million

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NEW YORK (AdAge.com) -- Time magazine executives plan to tell staff at a Monday-morning sales meeting that the long-anticipated changes at the title will include reducing its rate base to about 3.25 million from 4 million and, in a cost-saving move, cutting the number of the editions it prints to just a few from eight.
Richard Stengel
Richard Stengel Credit: NCC

The magazine is a crown jewel for Time Inc., the country's biggest magazine publisher, but has lost momentum in recent years, particularly as news became commoditized with the rise of the web. Cutting rate base, once seen as a sign of weakness, will no doubt be pitched to advertisers as a new way to emphasize circulation quality. Rival Newsweek has a guaranteed paid circulation of 3.1 million.

Efforts to invigorate the title kicked off when Time Inc. Editor in Chief John Huey named Richard Stengel the new managing editor, effective last June. Two months later, executives said the title would shift to Friday delivery from Mondays effective in January.

A Time spokeswoman today declined to elaborate. "We're looking at a number of things as we revolutionize the Time brand," she said.

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This story has been corrected. The number of editions was originally written as more than 20, rather than 8.
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