BREAKING NEWS & VIEWS
Time Warner Postpones Time Inc. Spin-Off Until Early 2014
Thursday, August 8, 2013
Time Warner Inc. chairman/CEO Jeff Bewkes announced Aug. 7 that the completion of the spin-off of publisher Time Inc. will not occur until after the new year. Dec. 31 had been the target since March 7, when Bewkes revealed the TW plans to make Time Inc. "a standalone public company that will be able to attract a more natural shareholder base."
The reason is to give incoming Time Inc. CEO Joe Ripp more time to acclimate and set strategies once he starts after Labor Day. Ripp's hire was not made until July 22 after overtures to Minneapolis Star Tribune publisher/CEO Mike Klingensmith and possibly others were turned down.
Bewkes' statement was part of conference call with analysts that accompanied Time Warner's second-quarter and first-half earnings. All units except Time Inc. were up, and TW stock hit a year-to-date high of $66.01 per share, +38.8% versus the Jan. 2 opening at $48.83.
If you have breaking news to share please contact min's editors.
Up and Coming
Webinar: Growing Audience, Engagement
& Profitability with Video
August 11 | Register Today!
Editorial & Design Awards
Entry Deadline: August 14 | Enter Now!
Breakfast with the minsiders
September 16 | Register Today!
Sales Executive of the
Year Awards Breakfast
September 22 | Register Today!
See all events and awards
Get even smarter. Need a quick primer on a media topic? Download a white paper!
Optimizing Your Printer Services - By MRI
Media Insights: minsider Viewpoints from the Front Lines - By min
|Copyright © 2015 Access Intelligence, LLC. All rights reserved. Reproduction in whole or in part in any form or medium without express written permission of Access Intelligence, LLC is prohibited. For more details please see Terms and Conditions.|