Time Inc Agrees To Buy American Express Publishing

No financial terms on the deal, but it should help Time Inc appeal to luxury advertisers early next year after Time Warner spins off its magazine unit. American Express Publishing reaches 36M consumers with titles including Travel + Leisure, Food & Wine, Departures, Executive Travel and Black Ink. Time Inc CEO Joe Ripp told staffers in a memo today that he’s “excited about the possibilities for expanding these world-class brands, along with the rest of our portfolio, as we prepare to become an independent company.” Time says that it will continue to send Departures, Black Ink and Executive Travel to high-end AmEx card owners who receive the magazines as a benefit. For the last 20 years Time Inc has provided management services to AmEx Publishing.