Time Inc.
Time Inc. is an American New York-based publishing company. It publishes over 90 magazines, most notably its namesake, Time. Other magazines include Sports Illustrated, Travel + Leisure, Food & Wine, Fortune, People, InStyle, Life, Golf Magazine, Southern Living, Essence, This Old House, All You, Real Simple, and Entertainment Weekly. It also owns the UK magazine house Time Inc. UK, whose major titles include What's On TV, NME, Country Life, Marie Claire, Wallpaper* and InStyle. Time Inc. also operates the digital-only titles MyRecipes, TheSnug, and MIMI.
Time Inc. also owns the rights to LIFE, a well-known magazine that has been published in many different formats. Time Inc. currently owns and runs LIFE.com, a website dedicated to news and photography.
In 1990, Time Inc. merged with Warner Communications to form the media conglomerate Time Warner. This merger lasted until the company was spun off on June 9, 2014.
History
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.