After exploring the potential sale of Coastal Living, Time Inc. president and CEO Rich Battista announced in an internal memo yesterday afternoon he has “great confidence that we can leverage and further unlock Coastal Living's potential.”
The company sees “greater value” in keeping the title.
The decision may be due, in part, to the title's brand extensions. Coastal Living is one of the top three brands at Time Inc. in licensed products revenue, making it an important part of the publisher's portfolio. The company won’t reveal any financial specifics.
Despite the decision to retain the brand, Coastal Living editor-in-chief Steele Marcoux has decided to leave. Southern Living editor-in-chief Sid Evans will now oversee Coastal Living, as well.
“Part of our plan includes bringing Coastal Living more closely into our Southern Living editorial operations under [Evans] and aligning Coastal Living advertising more closely with that of our Travel + Leisure and Food & Wine brands,” Battista wrote.
Across platforms, Coastal Living reaches an audience of over 4.5 million and a digital audience of 1.51 million users.
"Time Inc. will continue to explore the sale of a majority stake in Essence and the sales of Sunset, Golf and Time Inc. UK."