TIME INC. RESHUFFLES BUSINESS-SIDE MANAGEMENT

Three New Magazine Groups Formed

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NEW YORK (AdAge.com) -- Time Inc. reshuffled the business-side management of its magazines today in a series of moves announced internally by Ann S. Moore, chairwoman-CEO.

Internal memo
According to a memo obtained by AdAge.com, Mike Klingensmith is giving up responsibility for Time4Media, Time magazine, Entertainment Weekly and Life (which reported to Time until today's changes).

Mr. Klingensmith, an executive vice president and a former chief financial officer of Time Inc., was handed a new portfolio that includes consumer marketing, production, strategic planning, administrative services and Time Warner retail sales and marketing.

News and Information Group
Richard Atkinson, executive vice president and chief financial officer, was named to run the newly formed News and Information Group, comprising Time and the Fortune/Money Group. Mr. Atkinson, who gives up his chief financial officer title, continues to oversee the Time Warner Book Group, IPC Media, Synapse, information technology and international strategy.

Howard Rosen, who as senior vice president and controller had been the No. 2 finance executive, was named acting chief financial officer.

Women, Entertainment and Luxury Group
Nora McAniff, executive vice president, was named to run the Women, Entertainment and Luxury Group, an expanded version of the Time Inc. Women’s Group. Ms. McAniff keeps responsibility for People, InStyle, Real Simple, Essence magazines, the Parenting Group and the Growth Markets Group, but gains oversight of Entertainment Weekly and Life.

Sports and Leisure Group
And John Squires, executive vice president, was named to run the new Sports and Leisure Group, meaning he maintains responsibility for Sports Illustrated and Time Inc. Interactive and adds control of Time4Media.

Tom Angelillo, CEO-president of the Southern Progress Group, and Jack Haire, executive vice president, continue in their current roles.

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