The name Time Inc., one of the most iconic in publishing the last 95 years, will soon disappear.
Meredith, which has agreed to buy the publisher of Sports Illustrated, People and Time magazine for $2.8 billion, plans on retiring the Time Inc. name — from buildings, business cards and everywhere else, sources said.
The only place it will remain, in part, is on Time magazine.
Word of Time Inc.’s upcoming move to the scrap heap was delivered by Thomas Harty, Meredith’s president and chief operating officer, at an “integration meeting” at the New York publisher’s downtown Manhattan offices.
Time staffers were said to be flabbergasted.
“The name Time Inc. comes off the building on Day 1,” Harty said.
WHAT A SHAME. It is such a classic magazine. Hope their other magazines go bust.