So the deal is basically done. Time Inc and American Express Publishing have both agreed for Time Inc to swallow American Express Publishing (did we lose you?). The deal calls for Amex Pub to become a wholly owned unit of Time Inc. No word on who goes and who stays with Amex Pub when the deal closes around October 1st, but who ever stays, will now call Time Inc's Evelyn Webster, "Boss lady" as she has been tapped by Time Inc's new white fox (his hair) Joe Ripp to oversee the business. As the President of the Lifestyle Group, Ms. Webster is in charge of some of the company's more homie titles like All You, Coastal Living, Cooking Light, Real Simple and This Old House to name a few. Webster also oversees Time Inc's UK division, IPC Media. How she will slide Amex Pub titles like Departures, Travel & Leisure and Food & Wine into the unit, is a wait and see. One thing's for sure, there will be layoffs and/or exits down the road. Our money is on current Amex Pub CEO Ed Kelly who gets a demotion with the acquisition. The transition should be a smooth one being that both companies have been in a long term business operations partnership for many years. In the meantime Ms. Webster is probably doing some yoga as you read this.
Sep 12, 2013
published on Thursday, September 12, 2013
