Time Inc.

Time Inc.
legal form	Incorporated
ISIN	US8872281048
founding	November 28, 1922
resolution	January 31, 2018
Seat	New York City , New York , United States;
management	Rich Battista ; ( President and CEO )
Number of employees	7,200 (December 31, 2015)
sales	3.103 bn US dollars (2015)
Branch	media
Website	www.timeinc.com

Time Inc. was an American media company headquartered in New York City that was part of the Time Warner Group.

history

Time Inc. was founded on November 28, 1922 by college friends Henry Luce and Briton Hadden .

After buying up Little, Brown and Company in 1968, Time Inc. operated as a book publisher for a time . The publishing products included the popular Time Life label, created in 1961 , which belonged to the Time Warner Group until 2003. The book division was merged with Warner Books in 1996 to form the Time Warner Book Group. In 2006 it was sold to the French Groupe Lagardère and has since operated under the name of Hachette Book Group .

In 1989, Time Inc. merged with Warner Communications to form TimeWarner.

On June 9, 2014, Time Inc. was spun off from TimeWarner and brought to the New York Stock Exchange as an independent company , which effectively reversed the merger that took place in 1989.

In January 2016, Time Inc. took over the market research company Bizrate Insights.

Takeover by Meredith and subsequent break-up

Although the Management Board of Time Inc. spoke out against the sale of the company in April 2017, Meredith Corporation announced an agreement on November 26, 2017 to acquire Time Inc. for 2.8 billion US dollars . The transaction, financially supported by the Koch Equity Development fund of the brothers Charles G. Koch and David H. Koch , closed on January 31, 2018. Meredith announced that it would only keep the lifestyle and entertainment titles of the former Time Inc. in the USA, which are part of its own core business, and sell the remaining magazines Time, Fortune, Money and Sports Illustrated as well as other specialist magazines along with their international activities. This meant breaking up the group and selling the individual titles to new owners:

In January 2018, the lifestyle magazine Essence, which is aimed at African American women, was sold to the Liberian-born Richelieu Dennis, founder of a hair care company.
Golf Magazine was sold to banker Howard Milstein for about $ 15 million in February 2018 .
The activities of Time Inc. in the United Kingdom with 50 titles (u. A. Marie Claire and Country Life ) Epiris for 168 million were in February 2018 to the financial investor dollars sold.
The time was in September 2018. Marc Benioff , founder of the software company Salesforce , and his wife Lynne Benioff for 190 million US dollars sold.
Fortune was sold to Thai entrepreneur Chatchaval Jiaravanon for $ 150 million in November 2018.

Portfolio

Time Inc. laid over a hundred magazines , including some of the most famous in the United States. The publisher's products included Time , Sports Illustrated , Fortune , People , Entertainment Weekly and Money magazines . Time Inc. was thus the largest publisher in the USA and one of the industry leaders in Great Britain and Mexico . The market research company comScore put the company's market share of advertising in magazines within the USA at 21% in April 2010. Time Inc. owned the British company IPC Media , which in turn publishes magazines such as New Musical Express and Marie Claire .