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時代公司新任CEO將迎來上市大考

時代公司新任CEO將迎來上市大考

Jennifer Reingold 2013-07-24
近年來,時代華納為旗下出版子公司時代公司接連選擇的兩位外部人士CEO表現(xiàn)都不如人意。如今在時代公司上市前夕,它打起了保險牌,任命曾為公司效力19年、2004年才離開的喬?里普擔(dān)任時代公司CEO。不過,時代上市將是一個艱巨的任務(wù)。時代公司凈利潤已經(jīng)連續(xù)7個季度下滑,而且,目前還不清楚時代華納到底會讓這家公司承擔(dān)多少債務(wù)。

????時代華納公司(Time Warner)CEO杰夫?比克斯日前宣布,喬?里普將出任時代公司(Time Inc.)新任CEO?,F(xiàn)年61歲的里普曾任時代公司、時代華納以及美國在線(AOL)的CFO,現(xiàn)為OneSource Information Services公司的CEO。此前,比克斯曾經(jīng)為這家34億美元的出版子公司接連挑選了兩位外部人士CEO (杰克?格里芬,勞拉?朗),但他們的表現(xiàn)都不盡如人意。因此,如今的里普被視為是一個相對安全的選擇。內(nèi)部人士相信里普能理解時常帶有政治色彩的時代公司文化,他敏銳的財務(wù)頭腦則有望帶領(lǐng)這家公司完成今年年底或明年年初可能進行的剝離交易。

????另一位領(lǐng)先候選人也是曾經(jīng)的內(nèi)部人士邁克?克林史密斯,前時代公司CFO,目前管理著明星論壇報傳媒公司(Star Tribune Media Company)。但據(jù)接近公司的消息人士稱,磋商止步于薪酬以及他希望留在明尼阿波利斯的想法。第三位曾經(jīng)出現(xiàn)的候選人名字是時代公司CFO霍華德?艾福瑞,日前他獲任母公司相同職位。時代華納的發(fā)言人沒有回復(fù)尋求置評的電話。

????將時代公司帶上市對于里普而言是一項嚴峻的挑戰(zhàn),換做任何人也都一樣。里普是《財富》雜志銷售副總裁布蘭達?里普的父親,他必須說服投資者們,多份印刷雜志資產(chǎn)有其價值。從《人物》(People)、《造型》(InStyle)、《時代》周刊(Time)到《財富》雜志,這些品牌都擁有輝煌的歷史,而且時至今日依然保持盈利。但它們正在面臨與其他出版媒體一樣的挑戰(zhàn),時代公司的凈利潤已經(jīng)連續(xù)7個季度下滑。另外,人們也不清楚時代華納將會選擇讓這家前子公司承擔(dān)多少債務(wù)。幾周前比克斯在一次宴會上對同事們講話時,用到了15億美元這個數(shù)字——《財富》雜志的一篇文章指出,這樣的數(shù)字可能會讓時代公司不堪重負。時代華納的一位發(fā)言人后來指出,比克斯只是“打個比方”。市場調(diào)研公司Gimme Credit的高級分析師戴夫?諾佛賽爾表示:“如果你看到業(yè)務(wù)快速增長,那么負債越多越好。但很難說這是一項高成長性的業(yè)務(wù)?!保ㄘ敻恢形木W(wǎng))

????譯者:早稻米

????Joe Ripp will be the new CEO of Time Inc., Time Warner CEO Jeff Bewkes announced today. Ripp., 61, a former CFO of Time Inc., Time Warner (TWX) and AOL (AOL), and currently the CEO of OneSource Information Services, was seen as a relatively safe choice after Bewkes's ill-fated selections of outsidersJack Griffin and then Laura Lang as the previous chiefs of the $3.4 billion publishing unit. Insiders perceive him as someone who understands the often-political Time Inc. culture but who also has the financial acumen to guide the company through a spinoff, expected later this year or early next year.

????The other top candidate for the job was another outsider-insider, Michael Klingensmith, himself a former Time Inc. CFO who now runs the Star Tribune Media Company. But sources close to the company say talks broke down over both salary and his desire to remain in Minneapolis. A third name that had surfaced, Time Inc. CFO Howard Averill, was named to the same position at the parent company today. A Time Warner spokesperson did not return a call seeking comment.

????Taking Time Inc. public will be a difficult challenge for Ripp -- or for anyone. Ripp, who is the father of Fortune's Vice-President of Sales, Brendan Ripp, must convince investors that there is value in a collection of print magazines. The brands themselves, which range from People to InStyle to Time and Fortune, have a distinguished history and they remain profitable overall. But they are facing the same challenges as all established media are and, as a result, Time Inc. earnings have dropped for seven straight quarters. Also unclear is how much debt Time Warner will choose to assign to its former unit. Bewkes used the number $1.5 billion -- a figure that a previous Fortune article argued might burden Time Inc. -- while speaking to colleagues at a dinner a few weeks ago. A Time Warner spokesman subsequently asserted that Bewkes was speaking in an "illustrative" manner. Says Dave Novosel, senior analyst at Gimme Credit: "If you see a resurgence in the business then more leverage is better. But it would be hard to argue that this is a high-growth business."

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