Ann Moore, chairman and CEO of Time Inc., couldn’t be at our “Future of Business Media” conference in NYC two weeks ago, because it coincided with the Fortune Global Forum, organized by Time Warner (NYSE: TWX), in India. But she was able to take part though video: I interviewed her prior to the conference, and we played an edited version there. Here’s the full 18-minute video, where she talks about Time Inc.’s business media properties, including the shuttered mag Business 2.0, the future of Fortune, CNNMoney.com, the importance of video, and Time Inc.’s own future (RSS readers will have to click through):
— You would think I didn’t sell Business 2.0, but after looking at all the options, and trying to preserve as many jobs as possible, we sold Business 2.0 to Fortune. We will have rock star coverage of Silicon Valley for Fortune…we probably have more reporters there than anyone else covering the Valley.
— You can see the whole business sector being hit hard, more than my woman’s magazine or luxury titles, for example…all the business books have been hit by lack of automotive advertising and by tech. All of our categories targeting men have been under a lot more pressure than those targeting female books.
— Partnership with CNN for CNNMoney.com: I think this is the best partnership we have executed in my 30 years with Time Inc. CNNmoney.com is fabulously profitable…it has added meaningful revenue to the bottom line of the Fortune-Money Group.
— Our digital revenue are growing much faster than the flight of revenues form our traditional print categories…so we’re finally ahead of the game.
— Restructuring of Fortune-Money group, again, after a year: What happened it we took the emphasis off the brands…it seemed crazy not to re-establish the power of these brands. We put in a new management team in place now.
— We do video pretty well…we have studios here [in NYC], in UK and in Birmingham [Alabama], and you’ll see a lot more video on CNNMoney.com. It is not just that the readers want it, but our CPMs triple as well, so the advertisers want it.
— General interest business magazine surviving in the long-tail era: The long-tail has always been there, with trade magazines and other specialist media. The bottomline is this: I see a lot more similarities in old media and new media, in the design of how we use information.
— Synergies of Time Inc. With Time Warner: There are a lot that outsiders overlook. Our partnership with CNN is one example….we work on all newsweeklies, for example SI with CNN.
— Time Inc. as an independent company: It would make a lot of sense…the economics are quite delicious: we are one of the cash cows. You would be hard pressed to find any business that converts OEBITDA to cash than Time Inc. We are a big value company; we are not a tech company, we are not necessarily a high growth company, but in the portfolio at Time Warner, we are really an important piece. Could we survive on our own? We would be highly sought after. As much as the bankers lust after it, I don’t see it happening anytime soon.