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Time sheltered. Newsweek on the block.

   News about two of the biggest names in news - Time and Newsweek.

   The former, part of a larger and, today anyway, more profitable conglomerate, gets a passing mention in:
- Time Warner 1Q profit rises on better ad revenue - Associated Press
    Time Warner Inc. said Wednesday that its first-quarter profit rose 10 percent, helped by better advertising revenue and strong home video sales. ...
   ... Revenue for the publishing division, which Time Inc. is a part of, dipped 1 percent

   The latter grabs its own headlines: Newsweek
- With Newsweek sale planned, is end of an era near? - Andrew Vanacore/AP/Buffalo News
   At a time when people don't want to wait a minute for information, let alone seven days, do newsweeklies have a future? If Newsweek does, it won't be with its current owner.
   The 77-year-old magazine, hobbled by sagging ad revenue and circulation, is being put up for sale by The Washington Post Co., which is bowing out of the struggle to keep the genre relevant.

      For a vivid illustration of the trouble Newsweek finds itself in, note that news of its woes got it noticed by a whole lot of people who probably don't read it, and may never really have known it existed. Viz:

<td Exclusive - Jon Meacham Extended Interview Pt. 1
The Daily Show With Jon Stewart Mon - Thurs 11p / 10c
Daily Show Full Episodes Political Humor Tea Party

- Why not combine Newsweek and Slate? - Jon Friedman/MarketWatch
   Why can't the Washington Post Co. combine Newsweek and Slate, another of its well regarded media holdings, into one all-online operation? The move would accomplish one big priority: saving money.
- Should Newsweek survive? - Michael Tomasky/The Guardian
   Someone with a sense of civic purpose should buy Newsweek (it can't cost much at this point), accept that it will be much smaller, not worry much about news per se at all, and try to build an informed citizenry and a space for actual civic discourse. It wouldn't be remotely like what Newsweek used to be, but it will serve a purpose in our age, which last I checked we still call the Information Age.
- As media results improve, investors lose interest - Reuters
  Time Warner Inc (TWX.N) and CBS Corp (CBS.N) on Wednesday followed News Corp (NWSA.O) in reporting stronger quarterly results, but a sell-off in their shares suggested that Wall Street has already baked in the gradual recovery in advertising spending that is bolstering media profits.
   "I think media stocks have peaked," said Alan Gould, an analyst with Soleil-Gould Research Corp.
Time Warner’s CNN May Partner for News, Bewkes Says - The Financial Times
   CNN and CBS Corp. news executives have discussed ways the companies could combine operations to cut costs, New York magazine reported yesterday. Talks occurred in recent weeks, the New York Times reported, citing unidentified executives who had been briefed. CBS and Time Warner’s Turner Broadcasting announced a $10.8 billion deal on April 22 to share the cost of carrying the March Madness college basketball tournament.

 -- George Pyle/The Buffalo News

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