To: Time Inc. Staff

From: Ann Moore

Re: LIFE

I regret to inform you that we will no longer be producing LIFE magazine, effective with the April 20th 2007 issue. We remain committed to the LIFE brand, and will be concentrating on expanding the title's other businesses, including a new photographic portal making millions of LIFE photos available to the public.

LIFE Magazine was a truly innovative publishing venture. It was developed, edited and published by some of the best talent in the business and we can remain proud of its many achievements. LIFE enjoyed strong consumer support. Research showed readers consistently placed it above its competitors in terms of quality edit and photography. In addition, consumers couldn't get enough of the LIFE picture puzzles, with the Picture Puzzle book quickly becoming a New York Times Best Seller.

Earlier: Ann Moore: "I Have A Three Year Plan For Laying Myself Off"

• New managing editor Richard Stengel was brought into the Time family years ago by his predecessor, Jim Kelly. Jim Kelly can still remember when Time was relevant in the lives of the American people.
  
• Lots of famous names got their start at Time: Walter Isaacson, Graydon Carter, Kurt Andersen, Maureen Dowd, Frank Rich, etc. Kelly, Stengel, and Isaacson had a beach house in the Hamptons way back then, and it was populated by up-and-comers like Michiko Kakutani and Alessandra Stanley! Also Larry O'Donnell! It was like some kind of print-age version of the Dave Zinczenko/Dan Abrams Pussy Palace.
  
• When Kelly became managing editor he kind of stiffed Stengel, even though (or perhaps because) Time Inc. honcho John Huey was a fan.
  
• John Huey likes bourbon, swearing, and firing top editors. As soon as he became Time Inc. editor-in-chief, he canned Kelly's ass. His list of potential successors included former Times ombudsman Daniel Okrent, columnist Joe Klein, Fortune's Eric Pooley, Newsweek's Jon Meacham, Slate's Jacob Weisberg, and Tina Brown, who, in our favorite "news nugget" in the piece, "volunteered herself for the job." Also, Joe Klein? Seriously?
  
• Stengel auditioned for the gig with a three-item (this is what PowerPoint has done to the world) list that compared Time to other media. (Time's assets, unsurprisingly: knowledge, clarity, authority.) Stengel, having come up in the Time culture, proved to be the safe choice, and - bonus - a "fuck you" to Kelly.
  
• When layoff time came, Time Inc. CEO Ann Moore held all the cards, since Huey had no natural allies left. He bent over and took it.
  
• Ad sales started to die off when people realized that no one actually read the magazine. What could the organization do? Well, everyone was talking about this web thing, maybe they could do something with that!
  
• Nobody knows what the fuck they're doing at Time. Stengel wants to be The Economist, but Huey doesn't; Huey wants to dumb down enough until readers will pick the book up again, Stengel is unsure. Apart from a redesign and amped-up web content there seems to be no strategy at all apart from "throw it up against the wall and see if it sticks."
  
• Choosing YOU as Person of the Year was a remarkably stupid decision.

  Hope that helped!

  The Time of Their Lives [NYM]

I am only here for another three years. I am going to be known for transforming Time Inc. For diversifying Time Inc. And I am going to be the person who leads the transformation, to make sure we are around for another 80 years.

Edgy Days At The Top Of Time Inc. [BusinessWeek]

To: The Parenting Group and Time4 Media staff
From: Ann Moore
Re: Today's Announcement

Today's announcement was a difficult one for us at Time Inc. We've enjoyed working with you and have respected the enthusiasm and expertise you have brought to your magazines.
But I am very pleased that you have found a new home at Bonnier and World Publications. Europe-based Bonnier's values are founded on freedom of speech, responsibility and quality, and they particularly prize the talent and integrity of their employee base. The company isalso committed to special-interest magazines - making Bonnier a great fit to nurture and help grow these brands.
I am confident this transaction offers you the best opportunity to strategically grow your businesses.
Please know that I am joined by all of my colleagues at Time Inc. in wishing you great success.

A. M.

For Immediate Release

BONNIER MAGAZINE GROUP BUYS 18 MAGAZINES FROM TIME INC.

(New York, January, 25, 2007) - Bonnier Magazine Group and Time Inc., a Time Warner company (NYSE: TWX), today announced that Bonnier will acquire Time Inc.'s Parenting Group and Time4 Media titles. Through this transaction, Stockholm-based Bonnier and its U.S. magazine partner, World Publications, will become one of the largest consumer publishing groups in America, with 40 titles and annual revenue of more than $350 million.

Under the proposed agreement, Bonnier will acquire 18 titles, which will join World Publications' award-winning, market-leading collection of magazines, such as Saveur, Spa and Islands. The expanded portfolio strengthens the company's position among special-interest magazines and increases its new media opportunities.

Jonas Bonnier, Chairman of the Bonnier Magazine Group, said: "We are extremely pleased to have reached an agreement that elevates Bonnier to the highest echelon of consumer publishers nationwide. The potential synergies between the new properties and World's existing titles — as well as the corporate and individual growth that it will lead to — makes the future bright for all of us."

This is Bonnier's third acquisition in the United States during the past year and its first major purchase of a magazine group after its partnership with World.

Terry Snow, CEO of World Publications, said: "These new titles are a perfect strategic fit with World's special-interest magazines and what we excel at — connecting people with their passions. And I am especially looking forward to working with this talented group of editing and publishing executives. We're committed to building high-quality brands through exceptional editorial products, whether in print or online, and the potential to be the leading multimedia resource in our new and existing special-interest areas is very exciting to us."

Dick Parsons, Time Warner Chairman and Chief Executive Officer, said: "This is a smart transaction that advances both the interests of our shareholders and Time Inc.'s future success. This sale and our other recent divestitures are enabling us to concentrate our resources on developing our most strategic and promising opportunities to grow our businesses."

Ann Moore, Time Inc. Chairman and CEO, said: "I am very pleased to have found the right buyer for The Parenting Group and Time4 Media, one that will be able to nurture their specialized titles. This transaction underscores Time Inc.'s commitment to focus our energy, resources and investment on our biggest and most profitable brands. I'd also like to welcome Bonnier to the New York publishing world, which continues to be an active and vibrant industry."

The acquired magazines are as follows: Parenting, Babytalk, Popular Science, Field & Stream, Outdoor Life, Yachting, MotorBoating, Salt Water Sportsman, Skiing, SKI, TransWorld SKATEboarding, TransWorld SNOWBOARDING, TransWorld MOTOCROSS, TransWorld SURF, ride bmx, QUAD, SHOT BUSINESS and TransWorld business. Editorial, sales and marketing staffs will remain in New York, California and Colorado.

BLOODBATH AT 1271 AND BEYOND;
'MOST VALUABLE RESOURCE'
IS MASSACRED
Time Inc. Wields Unmerciful Ax

Two years ago, Ann Moore, Time Inc.'s Chief Executive, was hailing its employees as its "most valuable resource." Thursday, after completing a year in which it notched a profit of about 18%, Time Inc. announced plans to slash almost 300 jobs company-wide, more than 100 of them Guild-represented.

In a world where Time Inc. continues to have layoffs, justifying them as "business decisions" and playing to Wall Street, we have become casualties in a war of profits. When is the top going to start sharing the pain?

The only hint of good news to Guild-represented Employees is that the job cuts will be conducted under the terms set down in the Contract that was due to expire on February 1. The severance-pay formula designated in the pact is the one that will be followed. When talks began in January, the company balked at the usual agreement to keep the current Contract in effect while a new one was being negotiated. At the most recent session held on Tuesday, January 16, Time Inc. agreed to extend the current pact until March 22.

The staff cuts were made in a series of meetings on Thursday except at SPORTS ILLUSTRATED, where the compensating day for the Martin Luther King Jr. Day holiday was being celebrated. At SI, where Guild officials were told that up to 22 positions we represent are going to be sliced, the traumatic news was delivered in an email.

Hardly a Moment's Notice
Guild officials are normally given advance notice of details of a layoff. This year, Time Inc. officials apparently decided a half hour's notice was enough, scheduling a meeting with the Guild at 9:30 a.m. and a series of meetings with employees in the Time & Life Building starting at 10. In Miami it was even worse: Four members of PEOPLE magazine's Miami Bureau were told at 9:30, during the management announcement to the Guild in New York, that the operation there would close.

The Grim Elimination Numbers
What the Guild was told was that at TIME magazine, the company will be seeking "up to 40" volunteers to leave their jobs including:
3 artists
3 copy editors
1 negative reader
1 assistant photo lab technician
2 news desk assistants
2 news desk editors
1 letters correspondent
4 research librarians
8 reporter-researchers in New York
1 reporter-researcher in the District of Columbia bureau
1 reporter-researcher who handles the Map Room in New York
4 editorial assistants
Any combination of 5 writer-reporters or writer-editors
4 correspondents in the D.C. bureau

The News Desk will be closed. In addition, the Los Angeles, Chicago, and Atlanta bureaus will be closed, which will bring the total job loss at TIME of up to 49 people.

At PEOPLE, Time Inc. said it was seeking "up to" 25 volunteers including:
2 page coders
3 copy editors
3 negative readers
1 low resolution scanner
1 letters correspondent
5 reporter-researchers
3 writer-reporters
7 writer-editors

In addition, Time Inc. said it was closing the PEOPLE bureaus in Chicago, District of Columbia, Austin, and Miami, bringing the total PEOPLE job loss to up to 38.

At SPORTS ILLUSTRATED, Time Inc. said it was seeking "up to" 22 cuts, including:
3 copy clerks
1 copy coordinator
1 copy editor
1 imaging specialist
3 photographers
1 news desk assistant
1 reporter-researcher
4 editorial assistants
1 writer-reporter
6 writers
The News Bureau at SI will cease to exist.

In the Picture Collection: 1 picture cataloger

The Guild will continue to represent and try to help the people affected. The Guild is here to give advice. We welcome any questions. Don't hesitate to call Unit Chair, Alex Blanco, Grievance Chair, Edith Fried, 1st Vice Chair John Shostrom, or Local Guild Representative Bob Townsend.

The Company's Attack on Future Severance
In the meantime, the Guild is embroiled in a very difficult Contract negotiation with Time Inc. management, which has proposals on the table to slash notice pay altogether in cases of job reduction and reduce severance pay, which makes up the other part of a job elimination package. The company wants to reduce severance to 2 weeks' pay per year of service with a 52-week cap.

The Guild's strength at the bargaining table is derived through its membership. If you're not a member, support the union in our effort to maintain an equitable contract and join the Guild. Contact Unit Chairperson Alex Blanco at xxx (while still here) or Local Guild Representative Bob Townsend at xxx.
###

Well, the carnage is complete. Over 250 gone. Entire bureaus closed. No one left to fact-check The Ana Log. After the jump, Time Inc.'s John Huey surveys the damage.

Update: Bonus memoage from Ann Moore and Sports Illustrated's Terry McDonell.

January 18, 2007

To: All Time Inc. Edit Staff

From: John Huey

Re: Staff Announcement

Earlier today, Time Inc. announced layoffs that will eliminate significant numbers of editorial jobs across many of our titles. This is obviously a painful time for everyone-most especially those who are leaving their jobs involuntarily-but also for those who are staying on and saying goodbye to colleagues whom they value, even cherish.

In her talks within the company and with the press in recent months, Ann Moore has articulated the challenges that face our industry and our company, and she has made the convincing case that what we are doing now is essential to ensuring that our future will be as bright as our past.

It's important that we on the editorial side fully understand what that means-and what it doesn't mean. First, let me stress that these layoffs are not about performance of the individuals involved; the layoffs are about the restructuring of our editorial staffs as we move quickly into a future of flexible, multiplatform content creation. That means redesigning and rethinking much of what we do to ensure we are as efficient as possible. In some cases, that requires reassigning responsibilities among staffers. And unfortunately, in some cases that requires a leaner workforce.

We're not changing what we stand for at Time Inc., but we are changing much of what we do-and how we do it. Which leads me to what these changes do not mean. They do not mean that we are sacrificing the integrity of our journalism. They do not mean that we are less dedicated to the accuracy of what we report and write or that we are getting out of the print business. It is my hope, in fact, that we will see many exciting developments and investments in our core titles in the coming year.

Our editorial mission at Time Inc. remains the same as it has always been: to produce the most compelling, informative, influential, and entertaining journalism for hundreds of millions of readers around the world. That is what has gotten us this far, and that is what will ensure our future success.

So let's focus on two things right now: making great magazines and websites; and supporting our colleagues who are leaving in the most grateful, respectful and sensitive ways that we can.

Thank you for all that you do.

J. H.

—-—-—-—-—-

January 18, 2007

To: Time Inc. Staff

From: Ann Moore

Re: Staff Announcement

As you all know, the past year has been a time of transition at Time Inc. While we continue to invest in our core magazines, we are also focused on transforming our workforce and broadening our digital capabilities in order to become a truly multi-platform publisher.

We.ve made a lot of progress. Many of our web sites have matured into strong and popular brand vehicles, while others are relaunching new designs with fresher content. Meanwhile, our magazines continue to be some of the most popular and relevant titles on the newsstand today.

But progress brings change and we need to continue to evolve to meet the cost pressures and challenges presented by our rapidly-shifting industry.

Today I need to share with all of you that we are announcing layoffs throughout the organization.

These layoffs, which are in several business areas and on both the edit and publishing sides of a number of titles, are part of a restructuring necessary to sustain our progress.

You will continue to hear much speculation about our company in the press, so I encourage you to stay focused. I know this is a difficult time for all of us . it.s never easy to see talented colleagues leave.

Difficult times also bring opportunity, and I believe we have enormous potential for innovation and growth. I speak for the entire management team when I say we appreciate your hard work and dedication.

A. M.

—-—-—-—-—

TO: SI Edit Staff

FROM: Terry McDonell

DATE: January 18, 2007

The timing is unfortunate; I realize that many of you are out of the office today but this announcement is coordinated with similar announcements at some other Time Inc. magazines.

In recent years SI Edit has successfully complied with budget reductions through operational cost-cutting and expense management, but regrettably the day has come when staff reductions can no longer be avoided. Cost cutting in other areas remains a priority, but streamlining of the SI Edit staff is necessary to reach mandatory 2007 budget targets. In the coming days, as this process is worked out, details on the reorganization of some areas of the edit operation will be announced.

In addition to the elimination of some editorial titles, we need to reduce headcount in the following categories:

Copy Clerk (3)
Edit Assistant (4)
News Desk Assistant (1)
Copy Editor (1) *

Imaging Specialist (1)
Photographer (3)
Writer (6)
Writer-Reporter (1)
Reporter-Researcher (1)
Senior Editor (1)
Photo Editor (1)

In an effort to avoid layoffs wherever possible, we are asking employees from these categories if they wish to volunteer to leave SI with a severance package. You will have until February 1st to volunteer. We will conclude this process over the next two to four weeks.

If you are interested in volunteering or would just like to review your severance pay worksheet to understand what leaving now will mean to you financially, please email xxx and xxx. Your Worksheet will be available for you to personally pick up at HR Reception on 40** (bring your ID) after twenty-four hours.

* We will consider part-time volunteers in this category. A part-time volunteer would reduce their hours and their pay to half of their current hours and salary and they would be entitled to a part-time severance based on a part time salary. As a part-time employee, you will still be eligible for benefits coverage.

**HR is moving, so after January 26, you can pick it up at HR Reception on the 7th floor.

Related: Time Inc. Lays Off More Than 250 [NYT]

• Ad Age's Media Mavens: A remarkably diverse group. [copyranter]
  
• Who's getting canned at Time Inc.? It's a holiday mystery! [WWD]
  
• Fox News: Here's the name of that broad what got raped. [Radar]
  
• Philadelphia papers rank-and-file not exactly thrilled with labor deal. [Philadelphia Inquirer]
  
• Gossip under threat in Great Britian. [Guardian]
  
• Pretty much everyone's gonna go with a "gets off" joke about Girls Gone Wild auteur Joe Francis' lenient sentence for using underage girls in his videos; we're still trying to work something out concerning anal violation. [AP]
  
• Rolling Stone reality show contestant disabused of romantic notions about the magazine: ""I guess I had this romantic idea in my head of people under their desks shooting heroin in their eyeballs." Sorry, kid, that's just the readers. [WWD]

After that, it's "Fuck you, Charlie." Click "continue reading" to feel the warmth.

September 12, 2006

To: Time Inc. Employees

From: Ann Moore

Re: Today's Announcement

As you may have heard, we announced plans earlier today to sell some
of our smaller niche brands that we feel no longer fit with our
strategy for Time Inc.'s future.

While these titles are good performers, Time Inc. is focusing its
energy, resources and investment on our largest and most profitable
brands, brands that have demonstrated an ability to draw large
audiences in print and digital form. Our recent acquisition of
Golf.com and greater investment in CNNMoney.com, SI.com, People.com,
Time.com, InStyle.com and Time Inc. Interactive are evidence of this
focused strategy. Time Inc.'s unparalleled skills in creating,
editing and packaging compelling content can translate successfully to
all distribution channels. With our category leading brands in news,
sports, finance, celebrity, health, fashion and home, we're well
positioned for growth in multiple platforms.

Time4 Media businesses for sale include:
Popular Science
Marine Group (Yachting, MotorBoating and SaltWater Sportsman)
Time4 Outdoors (Field & Stream, Outdoor Life)
TransWorld Media (TW Skateboarding, TW Snowboarding, TW Surf, TW
Motocross, Ride BMX, Quad)
Mountain Sports Media (Ski, Skiing, Warren Miller Entertainment)

Golf, Golf.com, and This Old House Ventures, including This Old House
television production and This Old House magazine, will be staying at
Time Inc.

The Parenting Group is also for sale. These assets include:
Parenting
Babytalk
Parenting.com

In all there are 18 print titles for sale. 440 employees work at the
Time4 Media titles involved and another 120 work at The Parenting
Group.

I want to thank our colleagues at these magazines for all their hard
work over the years. They serve their audiences well, and we will
continue to work closely with them until the sale is final.

This was not an easy decision. These are all vibrant and valuable
brands. Over the past few months, I have worked closely with Jeff
Bewkes and Time Warner to refine our strategy, and we concluded that
the criteria for inclusion in the Time Inc. portfolio has changed. We
will be concentrating on our biggest brands in print. By focusing our
management attention and financial resources on these world famous
brands, I believe we best position Time Inc. for growth. I am
confident that the biggest brands in print, with our expertise and
support, will develop into the biggest brands online. This strategy is
already bearing fruit: SI.com and CNNMoney.com, for example will
contribute significant amounts to the bottom line of their respective
titles in 2006.

Golf and Golf.com will join the Sports Illustrated group. The
publishing side of Golf will report to SI president Mark Ford. Golf's
top editor will report to SI managing editor Terry McDonell. The move
to Sports Illustrated is significant as it combines the number one
general sports title with one of the leading golf titles and brings
together two category leading web sites with a total of 9,000,000
unique visitors a month.

This Old House will report to Time Inc. Co-COO John Squires on the
business side and the editorial side will continue to report to Scott
Mowbray.

Time4 Media's newly formed TV development arm, under Paul Speaker,
will remain part of Time Inc. They will continue to produce This Old
House, the award winning PBS television show as well as various other
Time Inc. television projects.

Time4 Media President Tom Beusse has agreed to stay on and manage the
remaining Time4 Media businesses during the sale period.

With these divestments, Time Inc. will have 132 magazines around the
world and 32 in the U.S. Our PIB share will be approximately 20%.
Time Inc. web sites receive more than 1.5 billion page views each
month.

I will keep you aware of developments as they occur. In the meantime I
appreciate all the work you are doing in helping position Time Inc.
for growth by making sure our world class journalism and brands
dominate their categories online as well as in print.

If you have any questions please email them to employee_questions@timeinc.com.

A. M.

Moore's full memo — full of encouragement for maintaining internal compasses — is after the jump.

May 23, 2006
To: Time Inc. Staff
From: Ann Moore
Re: Q1 Update

A few weeks ago Time Warner announced that our company is off to a good start this year, with first quarter financial results meeting overall expectations. I want to take this opportunity to update you on Time Inc.'s performance and progress against our 2006 goals. As Dick Parsons stated, it is fair to say that Time Inc.'s first quarter was less robust than we expected. Our earnings were down year over year due to challenges you are all well aware of, including continuing volatility in the advertising business.

To address these challenges we recently streamlined our management team. I'm pleased to report it has already had a major impact in how this company is run — decisions are being made at a faster rate; we are integrating and leveraging our collective assets more effectively; and we are working to improve information flow and internal communications.

Unfortunately as we've reorganized the company, we've also had to eliminate a number of positions. I know it's been unsettling for many of you, but we do hope the majority of eliminations is behind us. I also want to emphasize that cost-cutting was not the sole factor in this effort. In order to operate more efficiently, effectively and competitively we have had to reallocate our assets to invest in areas of higher growth. While magazines continue to be our core business, we are transforming Time Inc. into a multi-platform media company and translating our best-in-class content to other formats which complement print — including television shows, satellite radio, events and conferences and, of course, digital.

Investing in online/wireless has been one of our top goals for 2006 and we are having good success. Sports Illustrated continues to lead the magazine industry in delivering its content across new digital platforms. SI.com continues to be the largest magazine-based website. The swimsuit package in the first quarter with online and video download components was dazzling; and more recently, columnist Rick Reilly's weekly video segment, Riffs of Reilly, is now available exclusively on Verizon V-Cast mobile phones and SI.com. According to Nielsen/Net Ratings, CNNMoney.com reaches 8.5 million unique visitors, and in just five months since launching, it has catapulted from being the 8th largest online financial destination to the 3rd. People.com continues to break news regularly, most recently the birth of Suri Cruise, and the site was just recognized by MIN as "website of the year." Essence.com broke news last month with their reporting on developments in the Duke lacrosse team case. Time.com is also breaking news, like the resignation of Rep. Tom Delay a few weeks ago. With the groundbreaking addition of bloggers such as Andrew Sullivan and Ana Marie Cox, traffic is up over 40% from last year. EW.com is attracting more visitors than ever thanks in part to Jessica Shaw's regular Friday interview with each week's exiting American Idol contestant.

Another 2006 goal is repositioning our core titles for growth. By aggregating the selling and marketing operations of our business titles into the new powerhouse Time Inc. Business and Finance Network, we are now servicing a multi-platform business of size and unmatched scale at 20 million readers. Combining sales and marketing may not be a solution for all of our clusters, in this case it made good sense.

Our new corporate sales and marketing division has been turned into an innovative idea factory. Robin Domeniconi has hired a great team of creative marketing problem-solvers and they have quickly developed a game plan for success. One of their primary strategies is to drive research and insight across the entire organization leveraging our unrivaled knowledge of the consumer under the leadership of Betsy Frank, the widely recognized research "guru," who joined us from Viacom last month. Finding, retaining and motivating the best talent in the industry continues to be a top priority in all areas of the company.

It's important to remember that Time Inc. is still the unqualified industry leader. We're by far the top magazine company in the U.S. with four of the top ten PIB titles. Time Inc. ranks number one or two in most consumer magazine categories ranging from news, entertainment, business, sports and fashion. Internationally we're the market leader in the U.K. with IPC and we have a very strong presence in Mexico with GEE. International editions of Time and Fortune continue to be well-read and highly regarded around the world. Sports Illustrated just signed a deal to launch in China, In Style is a power brand around the world and is launching in Turkey this year, Real Simple has had a great first few months in Japan, South Africa and Greece. And we are an important and valued part of the Time Warner portfolio from a business perspective. We balance out some of the other hit-driven divisions by providing a steady flow of cash to the company.

We are fortunate that Time Inc. has some of the best and most trusted brands in the entire media landscape — that's how we must think of our assets, as brands, not just magazines. And in a time of so much information, our core competency of trusted editing skills is what will prevail. Our new Editor in Chief John Huey and the talented editorial staff continue to produce the most compelling stories, photos and content, which the industry recognized at the National Magazine Awards two weeks ago.

Working in an organization in times of change is hard. It requires a sustained effort that can take a personal toll on all of us, so I encourage you to maintain your internal compass. Teamwork and collaboration are crucial. I appreciate your focus during this period of transition and thank you for your hard work, professionalism and extraordinary talent which keep Time Inc. the industry leader by every measure.

A. M.

"Hachette has voiced strong support for the existing management at TWBG under Chairman David Young," Moore wrote in her memo. "No job losses are anticipated."

God knows the same couldn't be said if they remained part of Time Inc.

Moore's full memo is after the jump.

February 6, 2006
To: Time Inc. Staff
From: Ann Moore
Re: Time Warner Book Group

Earlier today Time Warner announced that they have reached an agreement to sell the Time Warner Book Group to Lagardere. The TWBG — including Warner Books and Little, Brown — will join Lagardere's Hachette Livre division. With the addition of the TWBG, Hachette Livre will become one of the world's three largest book publishers.

While all of us at Time Inc. will miss our book colleagues, we are pleased they have found a permanent home at a company committed to book publishing worldwide that recognizes the talents of TWBG authors, management and staff. Hachette has voiced strong support for the existing management at TWBG under Chairman David Young. No job losses are anticipated. This is a core business of scale for Hachette which they plan on investing in and growing, building on their most recent hugely successful year with 69 books on The New York Times best seller list.

Here at Time Inc. we will continue our strategy of growth: 1) investing in our current titles 2) building our online presence 3) launching new titles and 4) seeking acquisitions that complement our portfolio.

The Time Warner Book Group — the company, its staff and its library of memorable and award winning books — have long been a valued part of Time Inc. and Time Warner. We're confident this transaction offers them the best opportunity to strategically grow their business. TWBG will stay at this location for the next year, and they'll keep the Warner name for the foreseeable future. I know everyone at Time Inc. joins me in wishing David and his team great success in the future.

A. M.

Then, a half hour later, Nat Ives at Ad Age posted his own take on the story:

TIME INC. CUTS DEEP INTO TOP MANAGEMENT
Layoffs Sweep Through Highest Executive Levels

NEW YORK (AdAge.com) — Time Inc. today slashed 105 employees from its rolls, including some of its highest longtime publishing executives....

Among those losing their jobs are Jack Haire, exec VP in charge of corporate ad sales; Richard Atkinson, exec VP in charge of the news and information group; Eileen Naughton, president, Time magazine; David Kieselstein, president, the parenting group; Fred Poust, who ran corporate ad sales under Mr. Haire; and Steve Buerger, who also worked in corporate sales.

The move was part of another reorganization by Ann S. Moore....

But, you know, not a part worth mentioning in the press release.

The good-news release is after the jump.

Time Inc. Cuts Deep Into Top Management [Ad Age]

Time Inc.
For Immediate Release

Nora McAniff, John Squires Named Co-Chief Operating Officers of Time Inc.

Company Announces New Management Structure

New York, December 13, 2005 - Time Inc. chairman & CEO Ann Moore has appointed Nora McAniff and John Squires co-chief operating officers, the first in the company's history, it was announced today.

"Nora and John are seasoned and proven operating executives," said Moore. "Their appointment signifies our company's commitment to improving the process of producing and selling premier branded content."

She continued: "This move is part of a larger Time Inc. effort to simplify our management structure, speed decision making and reduce costs. We are reallocating our workload and assets in order to invest in areas of higher growth, including online and new launches."

McAniff, 47, previously executive vice president of the Time Inc. Women's, Entertainment & Luxury Group, will continue to oversee the titles in her existing portfolio and she will also add responsibility for Corporate Sales & Marketing, as well as Time Inc.'s Southern Progress Corporation and IPC Media, the largest magazine publisher in the UK. As co-chief operating officer, she will be the Time Inc. executive most directly responsible for the company's advertising revenue stream.

This new alignment also brings some management changes at the magazine and department levels. Executives now reporting to McAniff include: David Geithner and Paul Caine - the People Group; Stephanie George - In Style, Real Simple, and Essence; Tom Angelillo - Southern Progress Corporation and The Parenting Group; Sylvia Auton - IPC; Robin Domeniconi - Corporate Sales & Marketing, MNI, TMI and Time Inc. Strategic Communications; Andy Blau - Life and All You; and David Morris - Entertainment Weekly.

Squires, 48, formerly executive vice president of Time Inc.'s Sports and Leisure Group, will continue to have responsibility for his existing titles and Time Inc.'s interactive division. He will also have new responsibility for Time magazine, as well as the Fortune/Money Group, including Fortune, Money, FSB, Business 2.0 and the soon-to-be-launched CNNMONEY.com. He will also return to managing Consumer Marketing, with responsibility for the company's other revenue stream.

Squires' direct reports will include: Ned Desmond - Time Inc. Interactive; Ed McCarrick — Time; Mark Ford — Sports Illustrated and Time4Media; Chris Poleway - Fortune/Money Group; and Brian Wolfe — Consumer Marketing and Time Warner Retail Sales & Marketing.

Executive vice president Michael Klingensmith, 52, continues to report to Ann Moore, and will increase his responsibility by adding the Time Warner Book Group, Information Technology and Synapse. Additionally, he will continue to oversee Legal, Strategic Planning, Production, Administrative Services and Grupo Editorial Expansion. Senior vice president Kerry Bessey will continue to run Human Resources. She will continue to report to Ann Moore, as will acting chief financial officer Howard Rosen. Moore, McAniff, Squires, Klingensmith, Bessey and Rosen will form Time Inc.'s Office of the Chairman.

The new structure on the business side of the company will not affect the editorial side. John Huey assumes his position as Time Inc.'s editor-in-chief on January 1, 2006.

McAniff has been with Time Inc. since 1982. In 1993 she was named publisher of People magazine, and in 1998 she became president of the magazine, and later of the larger People Group, including Teen People and People en Espanol. She was named executive vice president in 2002 with responsibility for Time Inc.'s women's group of magazines, and earlier this year she added Entertainment Weekly and Life to her portfolio. McAniff serves on the boards of Saks Fifth Avenue and the Michael J. Fox Foundation for Parkinson's Research. A New York native, McAniff is a graduate of Baruch College.

Squires joined Time Inc. in 1989 as assistant circulation director of People. He was consumer marketing director for Entertainment Weekly and Sports Illustrated before he was named senior vice president of consumer marketing for Time Inc. in July 1996. Squires served as president of Entertainment Weekly from 1998 until his appointment as executive vice president in 2002. In his most recent position he oversaw Time Inc.'s Sports and Leisure group, including Sports Illustrated — for which he had direct oversight — and Time4Media, as well as Time Inc. Interactive. Since 2001 he has been a director on the board of the Audit Bureau of Circulations. Squires is a native of Pocatello, Idaho, and a graduate of the University of Washington.

Time Inc. is the world's leading magazine publisher, with 154 titles that are read more than 300 million times worldwide on a monthly basis and account for nearly a quarter of the total advertising revenues of U.S. consumer magazines.

Time Inc. is a wholly-owned subsidiary of Time Warner Inc., a leading media and entertainment company, whose businesses include interactive services, cable systems, filmed entertainment, television networks and publishing.

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Kelly also notes that Vogue is airing its first ever TV series, "Trend Watch," which will air in L.A., at 1PM on Sunday.
Huey flights out of time [Keith Kelly - Post]