Metro.usMyMetro Events http://www.metro.us Mon, 20 May 2013 06:49:16 +0000 en-US hourly 1 http://wordpress.org/?v=3.5.1 Bloomberg now 13th richest person in the world http://www.metro.us/newyork/uncategorized/2013/03/04/bloomberg-now-13th-richest-person-in-the-world/ http://www.metro.us/newyork/uncategorized/2013/03/04/bloomberg-now-13th-richest-person-in-the-world/#comments Mon, 04 Mar 2013 18:02:25 +0000 Danielle Tcholakian http://www.metro.us/newyork/?p=117941 Mayor Michael Bloomberg (Credit: NYC Mayor's Office)[/caption] The city's billionaire mayor is richer than ever, apparently — Mayor Michael Bloomberg placed at 13 on Forbes magazine's annual list of the world's richest people, up from 20th place last year. The Daily News reports the jump occurred due to a mere $5 billion added to his personal fortune. According to Forbes, Bloomberg is worth $27 billion. The three-term mayor's plans after this year's elections are still unclear, but the News pointed out that the mayor's recent funding of political campaigns outside of the Empire State, particularly in support of candidates who are pro-gun-control, signals a desire to use his wealth to remain politically active. Forbes notes that while the majority of the billionaires on their list are from the U.S., first place is still held by Mexico's telecom billionaire, Carlos Slim Helu. Helu, valued at $73 billion, makes our big-bucks mayor look like small potatoes.   Follow Danielle Tcholakian on Twitter @danielleiat]]> Mayor Michael Bloomberg
(Credit: NYC Mayor’s Office)

The city’s billionaire mayor is richer than ever, apparently — Mayor Michael Bloomberg placed at 13 on Forbes magazine’s annual list of the world’s richest people, up from 20th place last year.

The Daily News reports the jump occurred due to a mere $5 billion added to his personal fortune. According to Forbes, Bloomberg is worth $27 billion.

The three-term mayor’s plans after this year’s elections are still unclear, but the News pointed out that the mayor’s recent funding of political campaigns outside of the Empire State, particularly in support of candidates who are pro-gun-control, signals a desire to use his wealth to remain politically active.

Forbes notes that while the majority of the billionaires on their list are from the U.S., first place is still held by Mexico’s telecom billionaire, Carlos Slim Helu. Helu, valued at $73 billion, makes our big-bucks mayor look like small potatoes.

 

Follow Danielle Tcholakian on Twitter @danielleiat

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]]> http://www.metro.us/newyork/uncategorized/2013/03/04/bloomberg-now-13th-richest-person-in-the-world/feed/ 0 Report: Time Warner seeking buyers for its magazines http://www.metro.us/newyork/news/national/2013/02/13/report-time-warner-seeking-buyers-for-its-magazines/ http://www.metro.us/newyork/news/national/2013/02/13/report-time-warner-seeking-buyers-for-its-magazines/#comments Wed, 13 Feb 2013 21:08:53 +0000 Cassandra Garrison http://www.metro.us/newyork/?p=111925 People walk in front of the Time Warner Inc. headquarters building at Columbus Circle in New York. Credit: Reuters People walk in front of the Time Warner Inc. headquarters building at Columbus Circle in New York.
Credit: Reuters[/caption] Time Warner Inc is seeking to sell its publishing unit Time Inc and has met with at least one serious buyer, Fortune magazine said, citing unnamed sources. A meeting with a potential buyer is scheduled for today, the report said, adding that talks are still in formative stages. A Time Warner spokesman said the company does not comment on speculation. Time Inc is the publisher of magazine titles like People, Sports Illustrated, Fortune and its namesake newsweekly. In one possible outcome, the buyer would get most of Time Inc's titles while Time Warner would retain three magazines: Time, Sports Illustrated and Fortune, the report said. Magazines and newspapers are dealing with declining advertising revenue and readers who are increasingly choosing digital products over print. In 2012, revenue at Time Inc dropped 7 percent to $3.4 billion on declines in advertising and subscription revenue. Operating income fell 25 percent for the same period. Time Inc announced in January it planned to cut about 500 jobs, or about 6 percent of its workforce.]]> People walk in front of the Time Warner Inc. headquarters building at Columbus Circle in New York. Credit: Reuters
People walk in front of the Time Warner Inc. headquarters building at Columbus Circle in New York.
Credit: Reuters

Time Warner Inc is seeking to sell its publishing unit Time Inc and has met with at least one serious buyer, Fortune magazine said, citing unnamed sources.

A meeting with a potential buyer is scheduled for today, the report said, adding that talks are still in formative stages.

A Time Warner spokesman said the company does not comment on speculation.

Time Inc is the publisher of magazine titles like People, Sports Illustrated, Fortune and its namesake newsweekly.

In one possible outcome, the buyer would get most of Time Inc’s titles while Time Warner would retain three magazines: Time, Sports Illustrated and Fortune, the report said.

Magazines and newspapers are dealing with declining advertising revenue and readers who are increasingly choosing digital products over print.

In 2012, revenue at Time Inc dropped 7 percent to $3.4 billion on declines in advertising and subscription revenue. Operating income fell 25 percent for the same period.

Time Inc announced in January it planned to cut about 500 jobs, or about 6 percent of its workforce.

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