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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Time's Ripp Picked to Head Publishing Spinoff

NEW YORK (TheStreet) -- Former Time executive Joseph Ripp got the nod from Time Warner (TWX) 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.>.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,122.01 +15.31 0.09%
S&P 500 2,000.12 +0.10 0.00%
NASDAQ 4,569.6210 -1.0160 -0.02%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs