Time Inc.

Time Inc.
TypePublic
NYSE: TIME
Industry
FoundedNovember 28, 1922 (1922-11-28)
FoundersHenry Luce
Briton Hadden
DefunctJanuary 31, 2018 (2018-01-31) (Spin-off)
FateMerged with Warner Communications; later spun-off and acquired by Meredith Corporation
Headquarters225 Liberty Street, ,
United States
Key people
Joseph A. Ripp
(Executive chairman)
Rich Battista
(President and CEO)[1]
RevenueDecrease US$3.1 billion (2015)[2]
Decrease −US$823 million (2015)[2]
Decrease −US$881 million (2015)[2]
Total assetsDecrease US$4.8 billion (2015)[2]
Total equityDecrease US$1.8 billion (2015)[2]
Number of employees
7,200 (2016)[3]
Divisions
  • Time Inc. International
  • Time Inc. India
Subsidiaries

Time Inc. was an American worldwide mass media corporation founded on November 28, 1922, by Henry Luce and Briton Hadden and based in New York City. It owned and published over 100 magazine brands, including its namesake Time, Sports Illustrated, Travel + Leisure, Food & Wine, Fortune, People, InStyle, Life, Golf Magazine, Southern Living, Essence, Real Simple, and Entertainment Weekly. It also had subsidiaries which it co-operated with the UK magazine house Time Inc. UK (which was later sold and since has been rebranded to TI Media), whose major titles include What's on TV, NME, Country Life, and Wallpaper. Time Inc. also co-operated over 60 websites and digital-only titles including MyRecipes, Extra Crispy, TheSnug, HelloGiggles, and MIMI.[5]

In 1990, Time Inc. merged with Warner Communications to form the media conglomerate Time Warner. In 2018, media company Meredith Corporation acquired Time Inc. for $2.8 billion.[6][7] Meredith was then acquired by IAC and merged with Dotdash to form Dotdash Meredith three years later, thus resulting in IAC gaining most of the former Time Inc. assets.

  1. ^ Spangler, Todd (September 13, 2016). "Rich Battista Named Time Inc. CEO As Joe Ripp Steps Aside for Health Reasons". Variety. Los Angeles: Penske Media Corporation. Retrieved September 13, 2016.
  2. ^ a b c d e "TIME Income Statement - Balance Sheet - Cash Flow - Time Inc. Common Stock Stock - Yahoo Finance".
  3. ^ Yahoo! Finance Staff. "Time Inc. Profile". Yahoo! Finance. New York City: Oath Inc. Retrieved May 29, 2016.
  4. ^ Dave, Paresh (October 19, 2015). "Why Zooey Deschanel's media startup HelloGiggles sold to Time Inc". Los Angeles Times. Los Angeles. Retrieved October 19, 2015.
  5. ^ "Time Inc. Acquires HelloGiggles, a Leading Mobile and Social Millennial Women's Lifestyle Brand". October 19, 2015. Retrieved June 6, 2016.
  6. ^ "Meredith Corporation Announces Completion Of Time Inc. Acquisition And Reports Fiscal 2018 Second Quarter And First Half Results" (Press release). Meredith Corporation. January 31, 2018. Retrieved February 10, 2018.
  7. ^ Hays, Kali (February 1, 2018). "Time Inc., Now Meredith and More Changes to Come". Women's Wear Daily. Retrieved February 10, 2018.

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