Cheddar Afternoon Business Update, 8/8: Time, Inc. sees 12% drop in ad sales

Posted: Updated:
NEW YORK -

Time, Inc. posted a lower-than-expected revenue, hurt by a 12 percent drop in ad sales. The company, which publishes Sports Illustrated and People Magazine, says it will continue working on a turnaround plan and will cut another 300 workers.

Amazon is selling some self-produced items on its website through AmazonBasics like iPhone chargers, power strips, backpacks and washcloths. According to business website Quartz, the e-commerce giant keeps an eye on what products are selling the fastest and then creates its own versions to sell for less.

David Letterman has signed on to do a six-episode talk show with Netflix. The former "The Late Show" host will conduct one in-depth interview with a guest per hourlong episode. The show will premiere in 2018.

  • BusinessMore>>

  • Democratic socialism surging in the age of Trump

    Democratic socialism surging in the age of Trump

    Saturday, July 21 2018 1:05 AM EDT2018-07-21 05:05:45 GMT
    Sunday, July 22 2018 8:15 AM EDT2018-07-22 12:15:48 GMT
    In all corners of America, democratic socialism surging in the age of Trump.
    In all corners of America, democratic socialism surging in the age of Trump.
  • New UK Brexit chief: We may not pay exit fee if no deal

    New UK Brexit chief: We may not pay exit fee if no deal

    Sunday, July 22 2018 2:33 AM EDT2018-07-22 06:33:55 GMT
    Sunday, July 22 2018 8:15 AM EDT2018-07-22 12:15:03 GMT
    (Stephanie Lecocq/Pool Photo via AP). Britain's newly appointed chief Brexit negotiator Dominic Raab, left, and EU's chief Brexit negotiator Michel Barnier speak to the media ahead of a meeting at the European Commission in Brussels, Thursday, July 19,...(Stephanie Lecocq/Pool Photo via AP). Britain's newly appointed chief Brexit negotiator Dominic Raab, left, and EU's chief Brexit negotiator Michel Barnier speak to the media ahead of a meeting at the European Commission in Brussels, Thursday, July 19,...
    Britain's new Brexit chief has suggested Britain might not pay its 39 billion pound ($51 billion) divorce bill if no trade agreement with the European Union is reached.
    Britain's new Brexit chief has suggested Britain might not pay its 39 billion pound ($51 billion) divorce bill if no trade agreement with the European Union is reached.
  • Jeep exec takes over Fiat, marking end of Marchionne era

    Jeep exec takes over Fiat, marking end of Marchionne era

    Sunday, July 22 2018 12:18 AM EDT2018-07-22 04:18:51 GMT
    Sunday, July 22 2018 8:15 AM EDT2018-07-22 12:15:00 GMT
    (AP Photo/Carlos Osorio). In this photo taken on Tuesday, Jan. 16, 2018, Mike Manley, head of Jeep Brand, introduces the 2019 Jeep Cherokee during the North American International Auto Show, in Detroit. Fiat Chrysler's board recommends Jeep executive M...(AP Photo/Carlos Osorio). In this photo taken on Tuesday, Jan. 16, 2018, Mike Manley, head of Jeep Brand, introduces the 2019 Jeep Cherokee during the North American International Auto Show, in Detroit. Fiat Chrysler's board recommends Jeep executive M...
    Jeep executive Mike Manley will be the new CEO of Fiat Chrysler Automobile after longtime leader Sergio Marchionne's health suddenly deteriorated following surgery.
    Jeep executive Mike Manley will be the new CEO of Fiat Chrysler Automobile after longtime leader Sergio Marchionne's health suddenly deteriorated following surgery.
sorry to interrupt
your first 20 are free
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please enjoy 20 complimentary views of articles, photos, and videos during the next 30 days.
you have reached your 20 view limit
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please login or create an account to continue enjoying News12.
Our sign-up page is undergoing maintenance and is not currently available. However, you will be given direct access to news12.com while we complete our upgrade.
When we are back up and running you will be prompted at that time to complete your sign in. Until then, enjoy the local news, weather, traffic and more that's "as local as local news gets."