Be sure you read Time Inc‘s financial documents if you’re tempted to buy the company’s stock next year when Time Warner spins it off. The initial SEC filing today shows that it’s a fixer-upper. The No. 1 magazine company– whose 23 U.S. titles include Time, Fortune, Entertainment Weekly, People, and Sports Illustrated — says that its long term strategies “have not met management’s original expectations” and are being changed. But the publisher “had several recent changes in executive leadership” that have been “disruptive to our business” and may make it “more difficult to attract and retain the key employees we need to meet our strategic objectives.” Joseph Ripp became CEO in September, replacing Laura Lang. Ripp is still examining operations; once he’s finished he’ll “be better positioned to articulate areas of strategic emphasis for our business.” Lawyers believe the spin off should be tax-free. But...
- 11/22/2013
- by DAVID LIEBERMAN, Financial Editor
- Deadline TV
Joseph A. Ripp will become the new CEO of Time Inc., Time Warner announced today. Ripp will replace CEO Laura Lang, who told Time Warner that she didn't want to continue in her current role after the publishing unit was spun off. Photos: 10 Highly Paid Entertainment CEOs Ripp is a former Time Inc. and Time Warner executive who currently serves as CEO of OneSource Information Services, which provides online business information and sales intelligence solutions. He will start his new position in September. Ripp began his media career at Time Inc. in 1985 and held several executive-level positions
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- 7/22/2013
- by THR Staff
- The Hollywood Reporter - Movie News
Time Warner Inc Chairman/CEO Jeff Bewkes today announced two appointments. Time Inc CFO Howard Averill becomes the parent company’s next CFO, succeeding John Martin who’s becoming CEO of Turner Broadcasting System Inc. And veteran exec Joseph A Ripp will become the CEO of Time Inc, exiting as CEO of One Source Information Services in September to succeed Time Inc CEO Laura Lang who had advised Time Warner that she did not want to continue in the role following the spin-off. In March, Time Warner announced plans for the legal and structural separation of Time Inc from Time Warner to be an independent publicly traded company. “Howard has been an exemplary leader and a stabilizing force at Time Inc through a period of tremendous change. His financial acumen, sound jUdgment and broad understanding of our businesses will be an asset to Time Warner’s management team and our company.
- 7/22/2013
- by THE DEADLINE TEAM
- Deadline TV
This story first appeared in the March 29 issue of The Hollywood Reporter magazine. Time Warner CEO Jeff Bewkes' career has revolved around HBO, Turner Entertainment and its lucrative Hollywood divisions. Nonetheless, Bewkes likely feels an imperative to afford the company's print media company Time Inc., especially its historic magazines Time and Sports Illustrated, a chance for continued relevance when it is spun off. How so? First off, he can find more than a caretaker successor to short-lived Time Inc. CEO Laura Lang. And the position might be more intriguing to candidates if there is a blank slate -- that
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- 3/13/2013
- by Matthew Harrigan
- The Hollywood Reporter - Movie News
Time Warner on Wednesday announced it would spin off its magazine unit, Time Inc., into an independent and separately traded company that would house iconic publications such as Time, People and Sports Illustrated. The company said Time Inc. CEO Laura Lang will leave the company after the spinoff and once a successor has been named. “Laura indicated to me that we should find a different kind of CEO for this new public company, and I respect her decision,” Time Warner CEO Jeff Bewkes said Wednesday. Story: Time Inc. Slashes 500 Jobs, May Sell NYC Headquarters The conglomerate had been
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- 3/6/2013
- by Paul Bond
- The Hollywood Reporter - Movie News
Time Warner’s talks with Meredith Corp about combining their magazines in a separate company collapsed today. But here’s Plan B for the media giant: It will spin off its publishing arm into an independent, publicly traded entity, likely by year end. Until recently, Time Warner execs scoffed when asked whether they’d consider mimicking News Corp, which is spinning off its newspaper assets. Now, though, Time Warner CEO Jeff Bewkes says the idea provides “strategic clarity” that will enable his company to “focus entirely on our television networks and film and TV production businesses.” Time Inc will need a new CEO: Laura Lang told Bewkes that “we should find a different kind of CEO for this new public company, and I respect her decision,” he says. She’ll stay on through the spin off process and will help identify a replacement. Meredith, the publisher of Family Circle and the Ladies’ Home Journal,...
- 3/6/2013
- by DAVID LIEBERMAN, Executive Editor
- Deadline TV
Time Inc. will lay off approximately 480 staffers, 6 percent of its 8,000-person work force, CEO Laura Lang told staff in a memo on Wednesday. Staff has been expecting cuts for months, and initial prognostications placed the totals higher – at 700. Lang came to Time Inc. in November of 2011 from digital ad agency Digitas, and in the memo cited the need to shrink in a digitized age where the publishing industry continues to take it on the chin. Also read: Time Inc. to Lay Off Up to 700 "With the significant...
- 1/30/2013
- by Lucas Shaw
- The Wrap
The layoffs in the 8,000-person workforce will “come from all areas of Time Inc. across our locations – both domestic and international,” the magazine publishing unit’s CEO Laura Lang told staffers in a memo. No word yet on which publications will be hit hardest. The move had been anticipated, and takes place one week before Time Warner unveils its Q4 earnings and talks with Wall Street analysts. “With the significant and ongoing changes in our industry, we must continue to transform our company into one that is leaner, more nimble and more innately multi-platform,” Lang says. “To make this change, we need to operate as smartly and efficiently as possible to create room for critical investments and new initiatives. These reductions are part of this important transformation process.” In the first nine months of 2012 operating profits in the magazine unit fell 38.2% to $220M on revenues of $2.47B, -6.2%. Time Warner...
- 1/30/2013
- by DAVID LIEBERMAN, Executive Editor
- Deadline TV
The company that publishes Entertainment Weekly and People magazine — as well as Time, Fortune, and Sports Illustrated — is said to be preparing to lay off as many as 700 people as it grapples with declining ad sales and subscriptions. The cuts, out of a staff of nearly 8,000, will take place this quarter and will come from all corners of the business, my colleague Jill Goldsmith at Variety reports. It shouldn’t be a complete surprise. Time Warner CEO Jeff Bewkes told an investment gathering last month that the decline in the publishing unit’s revenues “seems to be continuing.” And Time Inc CEO Laura Lang told staffers this week in a memo, disclosed by the New York Post, that the business “remains challenged” which means there’ll be no pay raises for 2013 and that “we must continue to aggressively manage costs.” Time Warner will report year-end results for 2012 on February 6. Ubs...
- 1/11/2013
- by DAVID LIEBERMAN, Executive Editor
- Deadline TV
Martha Nelson has been named Time Inc.'s seventh editor-in-chief, making her the first woman to fill the position, the company announced Tuesday. Nelson, the founding editor of InStyle and former editor of People Group, replaces John Huey, who is stepping down after a seven-year reign. As editor-in-chief of Time Inc., she will oversee Time, People, Sports Illustrated, InStyle and Fortune, among others. "Martha is the ideal leader to step into this role at this point in our company's evolution," Time CEO Laura Lang said in a statement. "She is a creative thinker with...
- 12/19/2012
- by Alexander C. Kaufman
- The Wrap
While Beyonce's superstar style is usually flawless, the bizarre topknot she sported at the 2012 Sports Illustrated Sportsman of the Year Awards in New York City Wednesday night was far from it.
Pics: Beyonce's Most Memorable Fashion Moments
Posing next to Time Inc. CEO Laura Lang, Beyonce was right on trend in a shirtless burgundy suit, but her hair looked like a combination between an unfortunate bowl cut and an outrageously high ballerina bun.
Video: A Sneak Peek at Beyonce's HBO Doc
...But it's nice to know that even Queen B makes mistakes sometimes!
Pics: Beyonce's Most Memorable Fashion Moments
Posing next to Time Inc. CEO Laura Lang, Beyonce was right on trend in a shirtless burgundy suit, but her hair looked like a combination between an unfortunate bowl cut and an outrageously high ballerina bun.
Video: A Sneak Peek at Beyonce's HBO Doc
...But it's nice to know that even Queen B makes mistakes sometimes!
- 12/6/2012
- TheInsider.com
The viability of news-oriented video hubs became apparent during the recently concluded election season, when companies such as Ndn and ABC News shot up in the comScore rankings thanks to America's quadrennial appetite for political news. Therefore, it comes as no surprise that Time Inc. has announced the launch of a digital video department and has hired an industry veteran to head it up. The studio will bring together all existing Time Inc. video employees, consolidating them under the leadership of J.R. McCabe, who previously served as the head of the Meredith Corporation, a print and digital media agency that focused predominantly on women's publications. “This move will unify the strong but disparate efforts we currently have in video, bringing resources from all three clusters and the Time Inc. Studios together to create a strong team with a common set of facilities and back-end technologies,” said Time CEO Laura Lang.
- 12/3/2012
- by Sam Gutelle
- Tubefilter.com
Toronto – As newly-arrived Time Inc. CEO Laura Lang searches for new business models for magazines like People and Sports Illustrated, a surprising beacon came to her recently: the break-up of Tom Cruise and Katie Holmes. “You really have to understand where the consumer is,” Lang said Tuesday at the Fortune Brainstorm conference in Aspen, Colo., while taking part in a panel on transforming mature business models through innovation. Consumers of any age, she argued, look for headlines in the morning. Then as the day goes on, and computers and tablets become close at hand, consumers look
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- 7/18/2012
- by Etan Vlessing
- The Hollywood Reporter - Movie News
Time Inc. has hired Teri Everett, News Corp.’s former head of corporate communications, to run its PR shop under new CEO Laura Lang. Everett, whose official title is Executive Vice President of Corporate Communications, will begin March 5. She will report directly to Lang, who took the reins of the nation's biggest magazine publisher at the end of November. “Teri is well-known throughout the media industry as a premier communications strategist and trusted advisor,” Lang said in a statement. “One of our priorities is to create a transparent, open dialog about Time...
- 2/28/2012
- by Lucas Shaw
- The Wrap
Time Warner has embraced the digital side in selecting the new chief of its Time Inc. magazine unit – Laura Lang, CEO of digital advertising firm Digitas. After various outlets, including this one, reported the news Wednesday morning, the company announced its decision later in the day. In an obvious nod to the need to grow digital revenues, the press release noted that Lang has been in charge of the largest digital marketing agency in the world. "Laura’s leadership experience, brand management experise, understanding of digital and marketing. and strong relationships with...
- 11/30/2011
- by Lucas Shaw
- The Wrap
New York — Time Warner Inc. Chairman and CEO Jeff Bewkes today announced the appointment of Laura Lang as Chief Executive Officer of Time Inc. Ms. Lang will join the company from Digitas Inc. where she served as Chief Executive Officer since 2008. She will become CEO of the largest U.S. publishing company, home to such iconic brands as People, Time, Instyle, and Sports Illustrated, in January 2012. Ms. Lang will assume the role of leading Time Inc. from an interim management committee composed of Howard Averill, Maurice Edelson, and John Huey, which successfully guided the company during the last ten months. In making the announcement Mr. Bewkes said: “Laura’s leadership experience, brand management expertise, understanding of digital and marketing, and strong relationships with the creative and advertising communities are a great fit for Time Inc. She is the right person to lead the company as it aggressively evolves its businesses...
- 11/30/2011
- by DAVID LIEBERMAN, Executive Editor
- Deadline TV
Georg Szalai
New York - After a long search, Time Warner has chosen Laura Lang, who has been CEO of digital advertising powerhouse Digitas, as the new CEO of its Time Inc. magazine unit, the entertainment conglomerate said on Wednesday. Lang, who has led Publicis-owned Digitas since 2008 after joining the firm in 1999, is expected to continue an aggressive digital push by the unit, which is the largest U.S. magazine publisher. Her hire comes after Time Warner CEO Jeffrey Bewkes early this year fired Jack Griffin who had caused a culture clash as leader of the magazine division, according to
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New York - After a long search, Time Warner has chosen Laura Lang, who has been CEO of digital advertising powerhouse Digitas, as the new CEO of its Time Inc. magazine unit, the entertainment conglomerate said on Wednesday. Lang, who has led Publicis-owned Digitas since 2008 after joining the firm in 1999, is expected to continue an aggressive digital push by the unit, which is the largest U.S. magazine publisher. Her hire comes after Time Warner CEO Jeffrey Bewkes early this year fired Jack Griffin who had caused a culture clash as leader of the magazine division, according to
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- 11/30/2011
- by Georg Szalai
- The Hollywood Reporter - Movie News
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