Establishment and Ownership Changes
– Time magazine was founded in New York City on March 3, 1923, by Briton Hadden and Henry Luce.
– The magazine was originally named ‘Facts’ and later renamed ‘Time’ with the slogan ‘Take Time– Its Brief.’
– Time Inc. has gone through various ownership changes, including being owned by Time Inc. (1923–1990; 2014–2018), Time Warner (1990–2014), and Meredith Corporation (2018).
– Since 2018, Time has been owned by Salesforce founder Marc Benioff through Time USA, LLC.
– Roy Edward Larsen played a significant role in the development of Time Inc. as a circulation manager, general manager, and later as president.
– J.P. Morgan and other shareholders had control over Time Inc. through directorates and shares.
– Meredith Corporation acquired Time Inc. in November 2017.
– Marc Benioff and his wife Lynne bought Time magazine in October 2018.
Circulation and Expansion
– Time magazine started as a weekly publication and transitioned to every other week in March 2020.
– The first issue had a cover price of 15¢.
– Roy Larsen increased circulation through radio and movie theater promotions.
– Time introduced the People of the Year issue, which gained popularity over the years.
– Time Europe, Time Asia, and South Pacific editions expanded the magazine’s coverage globally.
Mergers and Transitions
– In 1989, Time Inc. merged with Warner Communications, becoming part of Time Warner.
– Time Warner later merged with AOL, forming AOL Time Warner in 2000.
– The company reverted to the name Time Warner in 2003.
– Time magazine changed its delivery schedule from Mondays to Fridays in 2007.
Current Status and Influence
– Time magazine is currently published by Time USA, LLC under the ownership of Marc Benioff.
– The magazine’s website is time.com.
– As of 2023, Time magazine has a total circulation of 1,256,572.
– Time magazine is based in New York City, United States.
– Time magazine compiles an annual list of the 100 most influential people of the year.
– The magazine also compiled lists of the 100 best novels, movies, TV shows, and fashion icons.
Cover and Special Editions
– Time is known for its iconic red border on the cover, introduced in 1927.
– The cover border has been changed eight times, including a black border after the September 11 attacks.
– Time’s Person of the Year cover story is its most famous feature.
– Time has released special editions dedicated to environmental issues and significant events.
– Time has released special issues with a cover showing an X scrawled over the face of a person or national symbol.Sources: https://en.wikipedia.org/wiki/Time_(magazine)
