Time Inc. is an American mass media company worldwide founded on November 28, 1922 by Henry Luce and Briton Hadden and based in New York City. It owns and publishes over 100 magazine brands, including Names of Time , Sports Illustrated , Leisure Travel , Food & amp; Wine , Fortune , People , InStyle , Life , Golf Magazine , South Living , Essence , Simple Real and Entertainment Weekly . It also has a subsidiary company in collaboration with the home of UK Time Inc. magazine. UK, whose main titles include What's on TV , NME , Village Life , and Wallpaper . Time Inc. also works with over 60 websites and digital titles including MyRecipes, Extra Crispy, TheSnug, HelloGiggles and MIMI /i>.
In 1990, Time Inc. joined Warner Communications to form the Time Warner media conglomerate. The merger lasted until the company was inaugurated on June 9, 2014. In November 2017, publishing company and media competitor Meredith Corporation announced that it would acquire Time Inc. worth $ 2.8 billion. This acquisition was completed on January 31, 2018.
Video Time Inc.
History
Beginner
The evening discussion on the concept of a news magazine led to its founders Henry Luce and Briton Hadden, both aged 23, to quit their jobs in 1922. Later that year they formed Time Inc. After collecting $ 86,000 from the $ 100,000 target, the first edition of Time was published on March 3, 1923, as the first weekly news magazine in the United States. Luce served as a business manager while Hadden was editor in chief. Luce and Hadden each year alternately year-on-year with the title of president and secretary-treasurer. After Hadden's sudden death in 1929, Luce assumed Hadden's position.
Luce launched the Fortune business magazine in February 1930 and created/established the Life magazine image in 1934, and launched the House & amp; Home in 1952 and Sports Illustrated in 1954. He also produced the radio series and newsreel The March of Time . In the mid-1960s, Time Inc. is the largest and most prestigious magazine publisher in the world. (Dwight Macdonald, staff of Fortune during the 1930s, called him "Il Luce", a game in the Italian dictator Benito Mussolini, called "Il Duce".) After ambition to become Secretary of State in government Republic, Luce wrote a famous article in Life magazine in 1941, called "The American Century", which defined the role of American foreign policy for the rest of the 20th century, and possibly beyond.
President Franklin D. Roosevelt, aware that most publishers oppose it, issued a decree in 1943 that blocked all publishers and media executives from visiting the battlefield; he placed General George Marshall in charge of law enforcement. The main target is Luce, who has long opposed FDR. Historian Alan Brinkley believes the move is "very wrong", because if Luce is allowed to travel, he will become an enthusiastic cheerleader for American troops around the world. But stranded in New York City, Luce's frustration and anger show him in a tough partisan manner. Luce, backed by Editor-in-Chief T. S. Matthews, appointed Whittaker Chambers as acting editor of Foreign News in 1944, despite Chambers' feud with reporters on the ground. In 1963, the recommendation of Time Inc executive David Brumbaugh was based on how he sent magazines that led to the introduction of Postal codes by the United States Post Office.
Luce, who remained the editor-in-chief of all his publications until 1964, retained his position as an influential Republican. By holding anti-communist sentiment, he uses Left to support right-wing dictators in the name of combating communism. An instrumental figure behind the so-called "Chinese Lobby", he played a major role in directing American foreign policy and popular sentiment in favor of Nationalist leader Chiang Kai-shek and his wife Soong Mei-ling in their war against Japan. (The Chiang appeared on the cover of eleven times between 1927 and 1955.)
Merge
Merger between Time Inc. and Warner Communications was announced on March 4, 1989. During the summer of the same year, Paramount Communications (formerly Gulf Western) launched a $ 12.2 billion bidding bid to acquire Time Inc. in an effort to end the swap share merger deal between Time and Warner Communications. This caused Time to raise his bid for Warner to $ 14.9 billion in cash and stock. Paramount responded by filing a lawsuit in Delaware court to block the Time/Warner merger. The court ruled twice in favor of Time, forcing Paramount to impose both the acquisition of Time and the lawsuit, and allow the formation of the merger of the two companies completed on January 10, 1990. However, instead of the company being dead, the impact of the merger and the resulting financial shock waves disengaged the structure a new company, producing a new joint company called "Time Warner".
In 2008, Time Inc. launched Maghound, an Internet-based magazine membership service featuring about 300 magazine titles from the Time Inc. brand. and external publishing companies. On January 19, 2010, Time Inc. acquired StyleFeeder, a personal shopping machine.
In August 2010, Time Inc. announced that Ann S. Moore, chairman and chief executive, will step down as CEO and be replaced by Jack Griffin, an executive with Meredith Corporation, the nation's second-largest consumer magazine publisher. In September 2010, Time Inc. signed a licensing agreement with Kolkata-based ABP Group, one of India's largest media conglomerates, to publish Fortune India magazine and Fortune India 500 annual list.
Split
On March 6, 2013, Time Warner announced plans for Time Inc. spin-offs. into a public company. Time Warner CEO/CEO Jeff Bewkes said that the split would allow Time Warner to focus entirely on television and film business, and Time Inc. to focus on its core print business. It was announced in May 2014 that Time Inc. will become a public company on June 6 of that year. Spin off has been completed on June 9, 2014. On September 13, 2016, Rich Battista has been promoted to president and CEO, replacing Joseph A. Ripp.
Time Inc. bought a series of titles from American Express Publishing Corporation, including Travel Leisure , Food & amp; Wine , Departure , Black Ink and Executive Travel on October 1, 2013. On January 14, 2014, Time Inc. announced that Colin Bodell joined the company in a newly created position as Executive Vice President and Chief Technology Officer. However, he was released May 19, 2016 On February 5, 2014, Time Inc. announced that they cut 500 jobs. However, most of the layoffs are in American Express Publishing. Since April 2014, Chairman of Time Inc. is Joseph A. Ripp. Ripp has been Chief Executive since September 2013. On May 28, 2015, Time Inc. announced the purchase of entertainment and sports news sites FanSided . In July 2015, Time Inc. acquired League Athletics in Tucson, SportsSignup in Saratoga Springs, and iScore at Los Alamitos. The three companies will be part of Sports Illustrated Play.
On February 11, 2016, Time Inc. announced that it has acquired Viant, a leading person-based marketing platform and MySpace owner. In February 2017, it was reported that Meredith Corporation and a group of investors led by Edgar Bronfman Jr. is considering chasing Time Inc. In 2016, Time Inc. acquired Bizrate Insights. On April 28, 2017, the company's board of directors canceled the company's sales plan and instead focused on its growth strategy.
On November 26, 2017, it was announced that Meredith Corporation would acquire Time Inc. in a deal worth $ 2.8 billion. $ 640 million in support will be provided by Koch Equity Development, but the Koch family will not have a board seat or affect the company's operations. In January 2018, Meredith removed signs and references to Time, Inc., and Time, Inc., web traffic redirected to Meredith's site.
In March 2018, just six weeks after the closing of the deal, Meredith announced it would lay off 1,200 employees, and explore sales of Time, Fortune, Money, and < i> Sports Illustrated . The company feels that these brands are not aligned with the core, lifestyle-oriented properties.
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References
Source
- Brinkley, Alan (2010). Publisher: Henry Luce and the American Century . New York City: Vintage Books. 302-303; 322-393. ASINÃ, 0679741542. ISBNÃ, 978-0679741541. CS1 maint: ASIN using ISBN (link)
External links
- Official website
Source of the article : Wikipedia
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