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Time Inc. Builds Senior Management Team and Reorganizes Editorial Operations



  Time Inc. Builds Senior Management Team and Reorganizes Editorial Operations

 Norman Pearlstine Returns to Time Inc. as Executive Vice President and Chief
                               Content Officer

       Lynne Biggar named Executive Vice President, Consumer Marketing

       Lawrence Jacobs named Executive Vice President, General Counsel

                  Editor-in-Chief Martha Nelson to step down
Executive Vice President, General Counsel Maurice Edelson to take on new role
                                at Time Warner

Business Wire

NEW YORK -- October 31, 2013

In preparation for its planned spin off from Time Warner Inc. (NYSE: TWX) into
an independent public company, Time Inc. today announced three major additions
to CEO Joe Ripp’s leadership team and a reorganization of editorial
operations.

Norman Pearlstine is returning to Time Inc. as Executive Vice President and
Chief Content Officer, a newly-created position. Lynne Biggar is joining Time
Inc. as Executive Vice President of Consumer Marketing and Lawrence Jacobs is
joining Time Inc. as Executive Vice President and General Counsel.

In a move to decentralize editorial operations, Time Inc. editors will now
report directly to the Group Presidents of their respective divisions: David
Geithner for Style & Entertainment, Evelyn Webster for Lifestyle and Todd
Larsen for News and Sports. In his new role as Chief Content Officer,
Pearlstine will have oversight of editorial policies and dotted-line
responsibility for editors. In addition, he will seek new growth opportunities
for Time Inc. brands across all platforms. Time Inc. Editor-in-Chief Martha
Nelson will be leaving the company with the implementation of the new
organization which eliminates the position of Editor-in-Chief and the current
editorial reporting structure.

Pearlstine served as Time Inc.’s Editor-in-Chief from 1994 through 2005.
During much of his tenure, he was also responsible for the business side of
Time Inc.’s television, internet and international operations. He has spent
the past five years at Bloomberg, L.P. as Chief Content Officer playing an
active role in the expansion of Bloomberg’s television, radio, magazine and
digital products. He also served as Chairman of Bloomberg Businessweek and
Bloomberg Government, a web-based subscription service covering legislative
and regulatory issues. Prior to Bloomberg, Pearlstine was a Senior Advisor to
the Carlyle Group, focusing on the media and telecommunications sector for the
private equity company.

“As our business continues to face headwinds and we prepare to go public, it’s
imperative we develop a larger vision for what our brands can become,” said
Joe Ripp. “I am confident Norm—together with our business leaders and
editorial teams—will develop exciting new content and brand experiences for
our audiences that will reinvigorate the franchise and fuel future revenue
growth. Norm has deep knowledge of our editorial operations and great respect
for the journalistic heritage of Time Inc. In this new role, he will challenge
us to move faster and experiment relentlessly with a constant commitment to
quality.”

“I believe a big part of the role of Chief Content Officer is to foster
entrepreneurship throughout the company,” said Pearlstine. “I look forward to
forging a new sense of partnership between the creative and business sides of
Time Inc.”

Commenting on Martha Nelson, Ripp said: “I want to acknowledge the innumerable
contributions Martha Nelson has made to Time Inc. She has been a driving force
for more than 20 years and has helped build some of our most vibrant brands.
She has also been a real leader and role model to many. I thank her for her
years of commitment and respect her decision to move on at this time.”

“I am very proud to have been part of Time Inc.’s history and to have had the
privilege of creating and working with some of the best brands in the world.
As this era ends and another begins, I leave Time Inc. confident in the vision
and commitment of the entire editorial staff. I believe in the future of our
brands and the talented people of Time Inc.,” said Nelson.

Lynne Biggar is joining Time Inc. from American Express Company where she
spent more than 20 years in a variety of strategic marketing and general
management roles, most recently as Executive Vice President and General
Manager for International Card Products and Experiences and a member of the
company's Global Management Team. In this role, Biggar led a global team of
2,800 focused on driving Card product strategy and travel and lifestyle
benefits. Previous roles include leadership of American Express’
industry-leading loyalty program as Executive Vice President and General
Manager of U.S. Membership Rewards & Strategic Card Services, and senior
leadership positions overseeing the Company's consumer travel business and
customer acquisition efforts.

Commenting on the appointment, Ripp said: “Lynne is a world-class marketing
executive, and we are delighted to attract someone of her caliber to take on
this key role. No other company has a stronger relationship with its customers
than American Express, and we believe Lynne is the perfect executive to help
us leverage our data and relationships in meaningful new ways.”

Lawrence Jacobs joins the company after spending more than a decade at News
Corporation as Senior Executive Vice President and Group General Counsel where
he oversaw all legal matters, including the acquisitions of DIRECTV and Dow
Jones/Wall Street Journal. Most recently, he served as Executive Vice
President, Legal & General Counsel for the state of New York’s Empire State
Development Corporation. He will succeed Executive Vice President and General
Counsel Maurice Edelson, who will move to Time Warner as Senior Vice President
and Deputy General Counsel.

“Lon has deep public company experience with one of the world’s leading media
organizations. He will be a valuable asset to us as we move to become an
independent public company,” commented Ripp. “Maurice has helped guide this
company for many years and I thank him for his leadership as he takes on a new
role with Time Warner.”

About Time Inc.

Time Inc., a division of Time Warner, is one of the largest branded media
companies in the world reaching more than 130 million Americans each month
across multiple platforms. With influential brands such as TIME, PEOPLE,
SPORTS ILLUSTRATED, InStyle, and REAL SIMPLE, Time Inc. is home to celebrated
events and franchises including the FORTUNE 500, TIME 100, PEOPLE's Most
Beautiful and SPORTS ILLUSTRATED'S Sportsman of the Year.

Contact:

Time Inc.
Teri Everett, 212-522-5613
teri.everett@timeinc.com
or
Jane Lehman, 212-522-0597
jane_lehman@timeinc.com
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