Time Inc. Buys Subscriber List : Science 86 Current Issue Is Last; Ad Decline Cited
WASHINGTON — Science 86, the award-winning popular science magazine that helped pioneer a trend toward glossy, technical publications for lay readers, will cease publication with its current issue and sell some assets to Time Inc., it was announced Friday.
The American Assn. for the Advancement of Science, which began publishing the magazine as Science 80 in the fall of 1979, said it is selling its Science 86 subscriber list and licensing the publication’s name to Time for two years as part of the deal.
Carol L. Rogers, an association spokesperson, said the 700,000-circulation magazine has had “incredibly successful circulation, but advertising revenue has been in a two-year decline.”
Michael Luftman, a spokesman for Time, said the corporation would pay AAAS $5,750,000 for the assets, with $3,750,000 being paid at the close of the deal and $2 million to be paid over the next five years.
Luftman said Time would use the Science 86 subscriber list to try to boost the circulation and demographics of its rival science magazine, Discover, which has a circulation of 850,000 and a readership of 2.1 million.
Science 86 subscribers, who include a high percentage of professional and managerial persons and college graduates, will be a very attractive reader segment for advertisers, he said.
All of the popular science magazines, including Discover, have had money problems because of advertising declines. The end of Science 86 had been expected since word leaked several weeks ago that Time Inc., was interested in buying the magazine for its readership.
“Although Discover has not made money for Time Inc., I think this initiative is evidence of our commitment,” Luftman said in an interview. “We think Discover has a very good future.”
Time said it would assume liability for unfulfilled Science 86 subscriptions, offering readers a choice of Discover or cash refunds for the remainder of their subscriptions.
Rogers said AAAS would probably lay off most of the 60 editorial and production staffers working on Science 86. Although not part of the agreement, Luftman said Time will be talking with some of the defunct magazine’s staff about possible employment.
