I don't subscribe to that. Here's why...
For me, I make it a point to write good content. It doesn't matter what time I publish because my audience are from all over. I don't want to time publication for any one particular time zone. It doesn't matter because facebook is open 24/7. If one part of the world is fast asleep, the other half is wide awake.
Human nature dictates that if an article solves a problem that has been giving them sleepless nights, they are going to read it. If a certain media is getting a lot of attention from their social network, they too, will want to see it. Like what they are seeing? Click.
Better questionNo matter what time of the day (or night) in their time zone, if the content catches their interest, they will click on it, or save it for later. The question then is not "what time to publish...", but what is the best way for me to get their attention?
Source - The Science of Social Timing Part 3: Timing and Blogging