Fortune magazine faces an uncertain future in the wake of executive departures and an owner who wants to double revenue in the next three years, reports Mark Stenberg of Adweek.
Stenberg writes, “When the business publisher Fortune was first spun out of the former Meredith Corp. in 2018, it faced an uncertain future.
“The legacy title had launched a standalone website only four years prior, had no digital subscription program, and had only a fledgling online readership. Nearly six years later, however, the 94-year-old publisher has since joined the growing list of legacy media titles that have, however improbably, found commercial stability in the digital era.
“Last year, Fortune generated around $130 million in revenue and notched its third straight year of profitability, according to interviews with seven former and current staff.”
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