Time Warner investors as of May 23 will receive one share of Time Inc for every eight that they own in the entertainment giant, the company says in an SEC filing. The new stock will trade under the ticker symbol TIME on the New York Stock Exchange. “As an independent, publicly-traded company, we believe we can more effectively focus on our objectives and satisfy the strategic needs of our business,” Time CEO Joe Ripp says in a statement to his new investors. The company expects to initially have 715,000 stockholders owning 110.3M shares of TIME. It has 23 print magazines in the U.S. including People, Sports Illustrated, Time, and Fortune, as well as more than 45 websites.
Time Inc To Go Public On June 6
What's Hot on Deadline
Divorce Comedy With Royal Family Twist From Meghan Markle's Ex-Husband Trevor Engelson Set At Fox With Big Commitment
Latest Business News
- Disney And Altice Trade Jabs As Carriage Contract Deadline Looms
- Nielsen Suing ComScore Over “Extended TV” Offering
- Hollywood Reporter Sued For $5M Over “False” Sony Hack Coverage
- Big Lit News: Howie Sanders, Kassie Evashevski Exit UTA For Anonymous Content
- Donald Trump Blasts Facebook CEO Mark Zuckerberg For Fueling "The Russia Hoax"
- Nina Dobrev Joins Ken Marino’s ‘Dog Days’ Pic, Filming Roger Avary’s ‘Lucky Day’