Time Inc. to Restructure
Times Inc. that publishes magazines like Time, Fortune and People and has more than 100 magazine titles has seen it s revenue decline from $5.4 billion in 2002 to $3.4 billion in 2012. The operating profit fell from $881 million to $420 million.
It is a subsidiary of the media conglomerate Time Warner, the company formed by the 1990 merger of the original Time Inc. and Warner Communications.
According to reports it “…will be spun off into a separate company….The process to separate Time Inc into an independent public company will likely take place by the end of the year.”
Time Warner CEO is reported to have mentioned that, “although change can be unsettling,” Time Inc’s “great legacy will live on as embarks on this new journey as a publicly-traded company.”
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