STEVE INSKEEP, host: It's time for cutbacks at the Times, and Time.</s>STEVE INSKEEP, host: Two media giants have decided to get smaller. Time, Incorporated will prune its portfolio of magazines. It wants to focus on its biggest sellers, like Time.</s>STEVE INSKEEP, host: People Magazine also stays part of the company, so Angelina Jolie can rest easy. But competition from the Internet has done severe damage to the magazine industry overall, so Time will be selling some of its smaller publications. If you've got the money, here's your chance to buy Popular Science, Field and Stream, Saltwater Sportsman, Parenting, or Baby Talk.</s>STEVE INSKEEP, host: The New York Times Company is also selling part of itself. It's getting rid of nine network affiliated television stations. That is described as an effort to concentrate on both its older and newer media: newspapers and its digital business.
Two American media companies are downsizing. Time Inc., which owns Time magazine, is selling some of its smaller publications. And The New York Times Company is putting some of its television stations on the market.