Hasta La Creative!

Soon, CEO Jeff Bewkes will have his wish: Time Warner won’t be a magazine company anymore.

A month after several media outlets reported that Time Warner was in discussions to merge a chunk of its magazine business with Meredith Corp.’s, the company instead announced today it would spin it off into its own publicly traded company, separating an iconic stable of magazines from what will become a pure-play TV company.

Time Inc. CEO Laura Lang will not be the person to run the newly separate Time Inc., the company said. Time Warner said it hoped to complete the spin-off by the end of the year.

Continue reading at AdAge.com