Hasta La Creative!

Shares in Time Inc., owner of People, Sports Illustrated and Time magazines, were off nearly 1% to $23.30 Monday, its first day of trading as a public company.

The company’s share price had tumbled about 4% after trading began but regained much of the lost ground during the afternoon.

Time Inc. is the nation’s largest magazine publisher and the only pure-play magazine company to trade publicly after parent Time Warner decided to spin off the underperforming publishing unit. Time Warner now plans to focus on its entertainment properties, including HBO, Turner networks and CNN. Shares of Time Warner were up more than 1% Monday to $68.99.

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