Time Inc. Will Spin off From Time Warner in 15 Days
Posted in: UncategorizedTime Warner has set a date for the spin-off of its Time Inc. publishing unit: May 23.
The date came in a filing with the Securities and Exchange Commission on Thursday, which also included a shareholders’ welcome letter from Time Inc. CEO Joe Ripp. “We are one of the largest branded media companies in the world, reaching more than 130 million people each month across print and digital platforms,” Mr. Ripp Wrote, listing company titles such as People, Sports Illustrated, Time and InStyle.
But Time Inc. is also a challenged publishing company from which Time Warner is eager to untether its entertainment businesses, which include Warner Bros., Turner and HBO. The filing details Time Inc.’s performance in recent years, including its decline in both revenue and income.
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