Time Inc. is now officially owned by Des Moines-based Meredith Corp.
“With this acquisition, we are creating a premier media and marketing company serving 200 million American consumers that’s positioned for growth across industry-leading digital, television, print, video, mobile, and social platforms,” Meredith Chairman/CEO Stephen M. Lacy said.
Accomplishing that goal will mean a stronger performance from its Local Media division, comprised of its broadcast TV stations. For the three months ended Dec. 31, 2017, total local media dipped by some $13 million. National media revenue was also down.