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Time Inc misses revenue estimates as advertising sales slip


(Reuters) - Time Inc, the publisher of Fortune, People and Time magazines, reported a lower-than-expected quarterly revenue on Tuesday, hurt by declines in magazine sales and advertising revenue.Circulation revenue, which accounts for nearly 30 percent of Time's total revenue, fell 12.3 percent to $207 million in the second quarter ended June 30.Advertising revenue also dipped about 12 percent to $374 million, driven by declines in both print and digital advertising.New York-based Time has struggled to boost magazine subscriptions and advertising revenue as more people move online for their ...

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First Published: Tue, August 08 2017. 16:27 IST