Eagle-eyed Noel Sheppard, who writes both for AT and Newsbusters, spotted the New York Times covering a new rescue strategy for TIME Magazine, a fellow media battleship taking on water and listing (to port, naturally). Noel asks:Have the brain-trust at Time magazine stepped out of a cold pool to recognize that their publication is not the brand it used to be, or are they finally wising up to political and technological shifts in the population they market to?The answer appears to be that they know they are in trouble, but no, they haven't quite got a handle on what to do, despite hiring the very expensive (and very smart) consultants at McKinsey & Company to study and advise them. (Full disclosure: McKinsey entertained me, flew me internationally in 1st class and put me up at a luxury hotel some years ago. I remember them with fondness, though I didn't accept the job offer.) According to David Carr's reporting for the NYT, TIME is cutting its rate base 20% (ouch!) and...(Read Full Post)