As if all the layoffs at Time weren’t enough of an indicator–word has it Time Warner is considering selling its pricey NYC headquarters. Though the company claims other options are still on the table–one being to potentially move employees to the Columbus Circle location and/or simply closing other New York offices–the move is a serious indicator of the financial state of the media giant.
Time Warner faces serious decisions for the future. The publishing unit wasn’t the only area losing money, and the company’s recent forecast fell short of what analysts expected. One analyst, Marci Ryvicker, who works for Wells Fargo in New York even stated the forecast “appears a bit soft.” The company did add 75,000 residential high-speed data subscribers, but fourth-quarter income fell, and the subscriber base for basic cable has continued to decline every year since 2009, with customers turning to satellite and phone companies for TV services.