Arab Today, arab today time inc to leave namesake building after spinoff
Last Updated : GMT 20:03:02
Arab Today, arab today
Arab Today, arab today

Time Inc to leave namesake building after spinoff

Arab Today, arab today

Arab Today, arab today Time Inc to leave namesake building after spinoff

New York - AFP

Time Inc. will move out of its namesake Manhattan office building when it is spun off from media giant Time Warner next month. The spinoff of the magazine publishing unit is set for June 6, and the company will get a new home, leaving the midtown Time & Life building where it has been since 1959. "This is a very important move for Time Inc. as we become an independent company,” said Joe Ripp, chairman and chief executive of Time, who on Thursday announced the move to offices on Liberty Street in lower Manhattan. Ripp said the company got incentives from the city and state as it evaluated options in the region, including in New Jersey. "Lower Manhattan has become a new destination for creative businesses," Ripp said. "We have ambitious plans for a modern, open workspace that will be designed to foster a greater sense of community and collaboration across the company, and it will deliver significant cost savings." Time Warner announced plans last year for a spinoff, which came on the heels of moves by Rupert Murdoch's NewsCorp separating its publishing and entertainment divisions. The titles of the publishing unit include Time magazine, People, Fortune and Sports Illustrated. It has several international magazines including global editions of Time and Fortune and publishing operations in Britain and Mexico. The publishing industry is grappling with a steep drop in print advertising revenue, steadily declining circulation and the migration of readers to free news online. A regulatory filing said the spinoff will be effective June 6, for shareholders of record as of May 23. The document said the new firm will have "one of the strongest collections of media brands," reaching some 100 million US consumers in print and 70 million online each month. It has 23 US magazines and licenses more than 50 editions for print or digital distribution in some 30 countries. When its finances are calculated independently of Time Warner, the unit showed a net profit of $201 million on revenues of $3.35 billion in 2013.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today time inc to leave namesake building after spinoff Arab Today, arab today time inc to leave namesake building after spinoff

 



Arab Today, arab today
Arab Today, arab today Laptop ban sparks ire

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
Arab Today, arab today AT&T, Verizon join Google ad boycott

GMT 10:30 2017 Thursday ,23 March

AT&T, Verizon join Google ad boycott
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemeni official warns education is under threat

GMT 12:03 2017 Tuesday ,14 March

Yemeni official warns education is under threat
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Donia Abdel Aziz participates in "Game of Silence"

GMT 07:12 2017 Tuesday ,21 March

Donia Abdel Aziz participates in "Game of Silence"
Arab Today, arab today Mexico threatens to ditch US corn imports

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 07:39 2017 Monday ,20 March

Dalia Mustafa believes in the presence of ghosts

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection

GMT 16:41 2017 Monday ,20 March

Preserving the memory of glaciers

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 13:11 2017 Tuesday ,21 March

Web-based counseling lowers blood pressure

GMT 10:18 2017 Tuesday ,21 March

Kuwait's tourism industry to be worth

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 22:39 2017 Thursday ,09 March

Zuhair Murad presents his new collection "Resorts"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday