• by Erik Sass  @eriksass1, November 6, 2015

The country’s largest magazine publisher posted another round of weak results this week. Time Inc. announced that total revenues fell 6% from $821 million in the third quarter of 2014 to $773 million in the third quarter of 2015.

As in previous quarters, the decrease resulted from drops in both advertising and circulation revenue. The publisher also posted a major “goodwill impairment” charge of $952 million and a net income loss of $913.

Time Inc.’s advertising revenues fell 7% from $428 million to $398 million, while circulation revenues were down 6.5% from $279 million to $261 million.

Within the advertising category, digital advertising revenues jumped 22% from $65 million to $79 million, but this gain was more than offset by a 12.1% drop in print advertising revenues, from $363 million to $319 million.

The drop in circulation was due to a 3% decline in subscription revenues, from $174 million to $168 million, while newsstand sales fell 12% from $98 million to $86 million.

In proportional terms, digital ads increase from 15.2% to 19.8% of total ad revenues over this period, and from 7.9% of overall company revenues to 10.2%. Time Inc. attributed the growth in digital to strong demand in categories including video and programmatic sales.

There is no end in sight for the decline of print ad revenues, as Time Inc. stated: “We expect the adverse market conditions associated with our Print and other advertising revenues to continue.”

The publisher also disclosed that its acquisitions in the first nine months of the year, including League Athletics, SportsSignup, iScore, and inVNT, cost a total of $115 million.

More recently, Time Inc.’s acquisition spree continued with the purchase of HelloGiggles, an online women’s interest and celebrity publisher, and sister sites xoJane and xoVain.