|Founded||1922 (merger 1990)
(acquired IPC Media 2001) (spinoff from Time Warner 2013))
|Country of origin||United States|
|Headquarters location||New York City|
|Key people||Joe Ripp (chief executive officer)
Mark Ford (executive vice president of advertising sales)
Colin Bodell (Chief Technology Officer)
Time Inc. is a subsidiary of the media conglomerate Time Warner, the company formed by the 1990 merger of the original Time Inc. and Warner Communications. It publishes 130 magazines, most notably its namesake, Time. Other magazines include Sports Illustrated, Travel + Leisure, Food & Wine, Fortune, People, InStyle, Life, GOLF Magazine, Southern Living, Essence, This Old House, All You and Entertainment Weekly. It also owns the UK magazine house IPC Media, whose major titles include What's On TV, NME, Country Life, Marie Claire, Wallpaper*, InStyle, and Nuts.
Time Inc. also owns the rights to LIFE, a well-known magazine that has been published in many different formats. Time Inc. currently owns and runs LIFE.com, a website dedicated to news and photography.
In 2008, Time Inc. launched Maghound, an internet-based magazine membership service that features approximately 300 magazine titles from both Time Inc. brands and external publishing companies.
In August 2010, Time Inc. announced that Ann S. Moore, its chairman and chief executive, would step down as CEO and be replaced by Jack Griffin, an executive with Meredith Corporation, the nation's second-largest publisher of consumer magazines. In September 2010, Time Inc. entered into a licensing agreement with Kolkata-based ABP Group, one of India’s largest media conglomerates, to publish Fortune India magazine and the yearly Fortune India 500 list.
On March 6, 2013, Time Warner announced plans to spin-off Time Inc. into a publicly traded company. Time Warner's chairman/CEO Jeff Bewkes explained: “After a thorough review of options, we believe that a separation will better position both Time Warner and Time Inc. A complete spin-off of Time Inc. provides strategic clarity for Time Warner Inc., enabling us to focus entirely on our television networks and film and TV production businesses, and improves our growth profile. Time Inc. will also benefit from the flexibility and focus of being a stand-alone public company and will now be able to attract a more natural stockholder base." It was recently announced that The Time Inc.'s spin-off plans will be put on hold until early 2014. It's now being reported that the planned spin-off of Time Inc from Time Warner will take place half-way through 2014 with the company's planned IPO being rumored to happen in late 2014.
On 14th January 2014, Time Inc. announced that Colin Bodell is joining the company in the newly created position of Executive Vice President and Chief Technology Officer.
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- Kelly, Keith. "Time Inc. IPO may be delayed until late 2014: report". New York Post. NYPost.com. Retrieved 8 December 2013.
- "Media It's Official: Time Inc. Buys AmEx's Food & Wine, Travel & Leisure Magazines". Ad Age. Crain Communications. Retrieved 11 October 2013.
- "Time Inc. to Cut 500 Jobs Ahead of Spinoff". The New York Times. Retrieved February 4, 2014.
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