Print Media, Time Inc. | featured news

Time Warner said Wednesday that it'll spin off its magazine division, Time Inc., as an independent, publicly traded company later this year, ending the company's talks to sell several magazine titles to Meredith Corp.

Time Warner Inc. Chairman and CEO Jeff Bewkes today announced the appointment of Laura Lang as Chief Executive Officer of Time Inc. Ms. Lang will join the company from Digitas Inc. where she served as Chief Executive Officer since 2008. She will become CEO of the largest U.S. publishing company, home to such iconic brands as PEOPLE, TIME, INSTYLE, and SPORTS ILLUSTRATED, in January 2012.

Jack Griffin is leaving after less than six months — forced out because his management style was not a good fit.

Ann Moore, the chief executive of Time Inc. -- the world's largest magazine publisher -- is stepping down from the company to be replaced by Jack Griffin, a group president of Meredith Corp., according to published reports.