Overview
Time Inc. was an American worldwide mass media corporation founded on November 28, 1922, by Henry Luce and Briton Hadden and based in New York City. It owned and published over 100 magazine brands, including its namesake Time, Sports Illustrated, Travel + Leisure, Food & Wine, Fortune, People, InStyle, Life, Golf Magazine, Southern Living, Essence, Real Simple, and Entertainment Weekly. It also had subsidiaries which it co-operated with the UK magazine house Time Inc. UK (which was later sold and since has been rebranded to TI Media), whose major titles include What's on TV, NME, Country Life, and Wallpaper. Time Inc. also co-operated over 60 websites and digital-only titles including MyRecipes, Extra Crispy, TheSnug, HelloGiggles, and MIMI.
In 1990, Time Inc. merged with Warner Communications to form the media conglomerate Time Warner (now Warner Bros. Discovery). In 2018, media company Meredith Corporation acquired Time Inc. for $2.8 billion. Meredith was then acquired by IAC and merged with Dotdash to form Dotdash Meredith three years later, thus resulting in IAC gaining most of the former Time Inc. assets.
History
Beginnings
Nightly discussions of the concept of a news magazine led its founders Henry Luce and Briton Hadden, both age 23, to quit their jobs in 1922. Later that same year, they formed Time Inc. Having raised $86,000 of a $100,000 goal, the first issue of Time was published on March 3, 1923, as the first weekly news magazine in the United States. Luce served as business manager while Hadden was editor-in-chief. Luce and Hadden annually alternated year-to-year the titles of president and secretary-treasurer. Upon Hadden's sudden death in 1929, Luce assumed Hadden's position.
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