Time Inc.'s Joe Ripp: After Time Warner Split, Our Cash Will Stay Ours
Joe Ripp started his new job as CEO of Time Inc. only three weeks ago, but he's already caught the attention of staffers by saying the executive suite had for too long been a place "where ideas go to die." He'll need their imagination and commitment going forward as parent company Time Warner prepares to spin Time Inc. off into a separate, independent entity, left to navigate publishing's challenges on its own.
But that could be an advantage too because it means Time Inc. will keep its cash flow instead of seeing it diverted for Time Warner's broader purposes, according to Mr. Ripp, who spoke with Ad Age during Advertising Week in New York.
"It was our funds, it was our innovation, that started Home Box Office," said Mr. Ripp, who worked at Time Warner and Time Inc. in an earlier tour, beginning in 1985.
"The beauty of Time Inc. is we're now going to get to keep our cash flows going forward," he added.