Yankee Publishing Sells Shares, Is Now 100% Employee-Owned (mediapost.com)

Time Out will likely cease printing most of its 40 magazine editions based in cities worldwide. The company plans to continue printing the magazine in London, Madrid and Barcelona, Time Out Group CEO Julio Bruno told the Financial Times. However, the group is “unlikely” to resume printing in the US and Portugal, according to the report. Other territories are “under review by management.”

J. C. Penney Company, Inc. announced financial results for its fiscal third quarter ended Oct. 28, 2017. Total net sales decreased (1.8) % to $2.81 billion in the third quarter compared to $2.86 billion in the same period last year, primarily the result of the 139 stores closed this year through the end of the third quarter. Comparable sales increased 1.7 % for the third quarter, resulting in a positive two-year stack of 0.9 %. For the third quarter, the Company's net loss was ($128) million, or ($0.41) per share, compared to a net loss of ($67) million, or ($0.22) per share in the same period last year. This reduction was driven in large part by increased cost of goods sold, restructuring charges associated with the store closures and a charge related to settlement accounting on the Company's pension plan. Click Read More below for additional information.

With a recent poll concluding that the majority of Americans would prefer to return to pre-internet days, are we just seeing a nostalgic yearning for simpler times or is there something deeper and more complex going on? The poll1 revealed that the desire to return to an unplugged era is surprisingly strong among the younger generation and is not strikingly different from those who are old enough to remember not having smartphones and easy internet access. While 77% of Americans aged 35 to 54 said they would prefer a return to their analog roots – the highest of any group in the survey – an eyebrow-raising 63% of 18- to 34-year-olds also agreed with this sentiment. The survey also revealed that 57% of people under 35 agreed with the statement that “technology is more likely to divide people than unite them”– an indication that the social media generation may be growing weary – and wary – of the world of feuding tech billionaires, Chat GPT and Deepfake.