Time Inc Drops Source Interlinks Wholesaler Services

first_imgIn the meantime, Time Inc. says it’s transferring Source Interlink’s distribution business to The News Group, which, along with Comag, is owned by the Jim Pattison Group.Time Inc. estimates that it will take up to 12 weeks to re-align the distribution operation under The News Group to accommodate the added retailers. Because of this, Time Inc. expects to take a $4 million revenue hit and incur about $1 million in transition costs. Under the new payment terms with The News Group, which extend through May 2019, Time Inc. expects a $12 million decrease in operating cash flow. The publisher-wholesaler relationship has been a contentious one. In 2009, Time Inc. and Source Interlink effectively settled an anti-trust lawsuit brought by Source when Time Inc., along with other publishers, refused to go along with a per-copy distribution price increase. As part of the deal, Time Inc. entered a multi-year contract with Source, but didn’t have to pay the increase. See Also: Time Inc. Strikes Deal with Source InterlinkPrior to that deal, Time Inc., other magazine publishers and national distributors had threatened to deny shipments to Source, which was granted a restraining order from the U.S. District Court for the Southern District of New York which prevented the publishers and NDs from doing so. In advance of its spinoff from Time Warner, Time Inc. has terminated its business with Source Interlink Distribution, its second largest wholesaler. According to a regulatory filing, the decision was made due to $7 million in uncollectible receivables owed to Time Inc. that will be recorded as bad debt in 2Q 2014.Source Interlink distributed Time Inc.’s titles to retailers in the U.S. and sales of these magazines represented about 2 percent of the company’s total 2013 revenues—about $70 million.Actions like these in the magazine newsstand distribution market typically cause an immediate chain reaction. According to a source, Curtis, a national distributor, has pulled its business from Source Interlink as well and Comag, another national distributor, had already done so, going as far as sending letters to its publisher clients notifying them of Source Interlink’s supposed payment problems. last_img read more

Nissan to reveal new 2020 Versa at a music festival

first_img Nissan New York Auto Show 2019 Nissan More From Roadshow 96 Photos Apr 19 • Volkswagen’s US CEO says around $25,000 would be a smart price for a small pickup See All reading • Nissan to reveal new 2020 Versa at a music festival May 29 • 2020 Ford Escape: Everything there is to know Today’s Nissan Versa is one of the oldest compact cars you can buy, having been first introduced back in 2011 as a 2012 model. Then at the 2014 New York Auto Show, the Versa received a facelift for the 2015 model year. While the Versa is impressively affordable, it’s never been one of our favorites and it feels out-of-date compared to its competition.With the April 12 debut putting the Versa’s reveal right before the start of New York Auto Show press days, we should get a chance to see the new car in the Big Apple, too. Either way, check back with Roadshow for full details and photos once the 2020 Nissan Versa is revealed. Apr 19 • Acura MDX PMC Edition is a hand-assembled SUV in brilliant red paint Tags The completely redesigned 2020 Nissan Versa will debut at Rock the Ocean’s @festivaltortuga in Ft. Lauderdale, Florida on April 12, 2019. #TortugaFest #NissanVersa2020 pic.twitter.com/cmc3DPSM62— Nissan (@NissanUSA) March 28, 2019 2020 Hyundai Palisade review: Posh enough to make Genesis jealouscenter_img 0 2020 Nissan Versa first drive: 15% more price, 100% more car New York Auto Show 2019 • Enlarge ImageThe current Nissan Versa, shown here, will soon be replaced. Nissan Carmakers increasingly use special events to introduce new cars away from the hubbub of international auto shows, and it appears Nissan will follow that route with its smallest sedan. Nissan announced Thursday that it will reveal the new 2020 Versa at the Tortuga Music Festival in Fort Lauderdale, Florida, on April 12.While the teaser photo and video hint at the introduction happening on or at least near the beach, there are few other clues about the 2020 Nissan Versa. The company says only that the sedan has been “completely redesigned,” signaling an all-new model rather than a refresh of the existing Versa. Share your voice Post a comment 2019 Nissan Murano looks different, but feels right 2020 BMW M340i review: A dash of M makes everything better Apr 19 • Check out the gory details in Honda’s IIHS crash-tested HR-V Sedanslast_img read more