One magazine-CEO panel at the American Magazine Media Conference had all the potential for excitement, since the single question that was hanging over everyone there on Wednesday was who, if anyone, is going to buy Time Inc.
But no real answers emerged.
Moderator Linda Thomas Brooks, the MPA chief executive, opened the discussion by asking Time Inc. CEO Rich Battista if he had “anything to tell the audience.”
Battista, who was added to the Time Inc. board when he was elevated to CEO in September, replied, “It doesn’t surprise me that third parties would be interested in Time.” In other words, he revealed absolutely nothing.
Steve Lacy, the CEO of Meredith, which is said to be stalking Time Inc., was seated two people away on a panel that also included Hearst Magazine’s David Carey, Condé Nast CEO Bob Sauerberg and Rodale CEO Maria Rodale.
Lacy was never asked the question and never brought up the topic.
The private investment team that includes former Maker Studios Chairman Ynon Kreiz, Edgar Bronfman Jr. and Warner Music Chairman Len Blavatnik had gotten a first look at the Time Inc. books on Monday. But they are industry outsiders and, as such, not invited to the members-only powwow.
Time Inc.’s earnings are due Feb. 16, and the early buzz is they will fall short of expectations, showing another year of decline.
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