This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Time's Ripp Picked to Head Publishing Spinoff

NEW YORK ( TheStreet) -- Former Time executive Joseph Ripp got the nod from Time Warner (TWX - Get Report) Chief Executive Jeff Bewkes to head the publishing company when it's spun off later this year.

The selection closes one of the most closely watched executive appointments in U.S. publishing as industry observers debated whom Bewkes might select to run the country's largest magazine publisher. Time Warner announced the spinoff in March, following the lead of News Corp. which recently separated its publishing business from its television and film units to form two separately-traded companies.

Ripp will take over in September, replacing Time CEO Laura Lang who told Bewkes in March that she wouldn't continue to lead the company after the spinoff.

Time Warner shares were rising 0.9% to $62.31 in mid-day trading. the shares have gained 31% this year.

Ripp, who currently heads OneSource Information Services, a company research service, last worked at Time Warner in 2004, holding positions in finance, technology and operations. Ripp was Time Warner's finance chief from 1999 to 2001 before becoming vice-chairman at America Online.

"Joe is a seasoned executive who has been immersed in the intersection of digital, advertising and publishing for the past decade," Bewkes said in a press statement. "We have great confidence that Joe will maximize Time Inc.'s iconic brands, scale and industry-leading position to create value for its stockholders."

After leaving Time Warner, Ripp also served as chairman of Journal Register, the newspaper company that filed for Ch. 11 bankruptcy last year.

The spin-off Time, which includes its flagship magazine as well as People, Fortuneand Entertainment Weekly, would become the third entity that Bewkes has spun-off since becoming CEO in 2008. Time Warner Cable and AOL Inc., were spun-off in 2007 and 2009 respectively.

Written by Leon Lazaroff in New York

>To contact the writer of this article, click here: LeonLazaroff.>.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
TWX $88.44 0.37%
AAPL $122.37 -0.50%
FB $95.21 -1.84%
GOOG $632.59 0.10%
TSLA $266.79 1.13%

Markets

Chart of I:DJI
DOW 17,745.98 -5.41 -0.03%
S&P 500 2,108.63 +0.06 0.00%
NASDAQ 5,128.7850 +17.0520 0.33%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs