Time Inc Will Officially go Off on Its Own Come June 6, And Officially Fire More People Too

America's mother of all magazine publisher, Time Inc will officially be sent off in the the wild on its own on June 6. The company will trade under the ticker "TIME" and will even be slimmer and trimmer as more bodies are expected to be cut from the work force.

 Joe Ripp, who was appointed CEO of Time Inc. last year, said in a letter to shareholders on Thursday that "as an independent, publicly-traded company, we believe we can more effectively focus on our objectives and satisfy the strategic needs of our business."

The spin-off is the latest bit of restructuring done by Time Warner during the past few years. The company has also spun off online advertising company AOL and Time Warner Cable.

source: cnn money