S&P Global (NYSE: SPGI) announced that it has completed the sale of its Engineering Solutions business to investment funds managed by KKR, a leading global investment firm. S&P Global received the full proceeds from the sale of $975 million in cash, subject to purchase price adjustments, which S&P expects to result in approximately $750 million of after-tax proceeds. The transaction will also include local closings in certain jurisdictions, which are expected to occur during the balance of 2023. In the future, the Engineering Solutions business will operate as an independent company by the name of Accuris.

Time Inc. is reducing the circulation and frequency of a number of its titles to “sustain its print business,” focusing on its core readership with heftier issues. The goal is to attract advertisers to a more valuable audience. Time Inc. confirmed to Publishers Daily it will cut the circulation of Time and People en Español, as well as reduce the frequency of the latter, Sports Illustrated, Fortune, Money and Entertainment Weekly. Time magazine will cut its circulation by one-third, from 3 million to 2 million per issue. Its frequency will stay the same at 44 issues per year. People en Español will lower its circulation from 540,000 to 500,000 and cut two of its issues to print nine a year. Sports Illustrated will drop from 38 issues a year to 27. Fortune’s frequency will change to monthly, from 16 issues a year. Money will drop to 10 issues from 11. Entertainment Weekly will cut four issues and appear 34 times a year in 2018. Click Read More below for additional information.

The Postal Regulatory Commission submitted its FY 2021 Annual Report to the President and Congress. The Commission is required by statute to address information concerning the agency’s operations, including the extent to which regulations are achieving the objectives of the Postal Accountability and Enhancement Act. The Commission’s report must also include an estimate of the costs incurred by the Postal Service to provide certain services that the Postal Service would not otherwise have provided except for the requirements of the law, and further presents an estimate for the value of the postal monopoly. The Commission’s Annual Report also reflects the work it has done throughout the year as it continues to advance its mission to provide transparency and accountability of Postal Service operations. In addition to reviewing and approving planned rate changes for Market Dominant and Competitive products, new product proposals, and formal complaint adjudications, the Commission: