If this company won't give you the Time, who will? Time Warner's publishing operations are conducted primarily through Time Inc., a leading consumer magazine publisher with more than 20 US magazines and 45 corresponding websites in its collection. In addition to Time, its titles include Entertainment Weekly, People, Fortune, and Sports Illustrated. Subsidiary Essence Communications publishes Essence magazine, while IPC Group Limited is the UK's top magazine publisher (Now, Look). Time Inc. also manages American Express Publishing Corporation, the publishing operations of American Express, including the Travel & Leisure and Food & Wine magazines. Time Inc. accounts for nearly 15% of Time Warner's revenues.
The company is ogranized through four groups: Style & Entertainment, News, Lifestyle, and Sports. Its News Group includes Time, as well as the Fortune and Money brands and the CNNMoney.com and Life.com websites. The Sports Group consists of Sports Illustrated and Golf, and their digital offshoots. Style & Entertainment is anchored by flagship title People magazine.
Internationally, Time Inc. licenses some 70 editions of its magazines for publication outside the US. It publishes more than a dozen magazines in Mexico, including business title Expansión and celebrity magazine Quién, through its Grupo Expansión (GEX) unit. Among the UK titles from IPC include What's On TV and Woman.
Time Inc. is also dealing with a massive shift of readers and marketers to the Internet and digital readers. In 2010 the company launched versions of some of its magazines for Apple's iPad, including iPad apps for Time, People, Sports Illustrated, and Fortune. The issues are available through Apple's iTunes App Store for download, a single issue at a time. Apple has yet to form an agreement with publishers that results in the sale of subscriptions to iPad editions. However, in a significant turn of events for iPad users, in 2011 Time made all the iPad editions of its magazines free for print subscribers.
In other digital efforts, Time Inc. formed Next Issue Media, a joint venture with leading publishers Advance Magazine Publishers (doing business as Condé Nast), Hearst, Meredith, and News Corporation, to develop a new digital storefront and related technology that lets consumers access content on portable digital readers, smart phones, and laptops. The consortium is working to make digital versions of magazines compatible on multiple platforms, such as Android, BlackBerry, and other hardware devices. The digital store opened for business in 2011, first making digital titles available on the Android-powered Samsung Galaxy tablet.
▲ Show Less▼ Show Full Description