Time (magazine)
Time is an American weekly news magazine and news website. It was first published in New York City on March 3, 1923, and for many years it was run by its influential co-founder Henry Luce. Since November 2018 Time has been published by TIME USA, LLC, owned by Marc Benioff, who acquired it from Meredith Corporation.
About Time (magazine) in brief
Time is an American weekly news magazine and news website. It was first published in New York City on March 3, 1923, and for many years it was run by its influential co-founder Henry Luce. Since November 2018 Time has been published by TIME USA, LLC, owned by Marc Benioff, who acquired it from Meredith Corporation. As of 2012, Time had a circulation of 3.3 million, making it the 11th-most circulated magazine in the United States. In July 2017, its circulation was 3,028,013; this was cut down to 2 million by late 2017. The print edition has a readership of 26 million, 20 million of whom are based in the U.S. The South Pacific edition, which covers Australia, New Zealand, and the Pacific Islands, is based in Sydney. A European edition is published in London and also covers the Middle East, Africa, and, since 2003, Latin America. An Asian edition isbased in Hong Kong. In December 2008, Time discontinued publishing a Canadian advertiser edition. It set out to tell the news through people. For many decades through the late 1960s, the magazine’s cover depicted a single person. More recently, Time has incorporated \”People of the Year\” issues which grew in popularity over the years. Notable mentions of them were Barack Obama, Steve Jobs, etc. The first issue of Time was published on March3, 1923,. featuring Joseph G. Cannon, the retired Speaker of the House of Representatives, on its cover; a facsimile reprint of Issue No. 1, including all of the articles and advertisements contained in the original, was included with copies of the February 28, 1938 issue as a commemoration of the magazine’s 15th anniversary.
The cover price was 15¢. On Hadden’s death in 1929, Luce became the dominant man at Time and a major figure in the history of 20th-century media. In 1929, Roy Larsen was also named a Time Inc. director and vice president of J. P. Morgan & Co. The time owned by Luce was owned by the New York Trust Company and the Brown Brothers & A. Harriman & Co., which owned both Fortune and W. A. Brown. However, after Luce’s death, the largest stockholder was Henry Hadden, who ruled the media conglomerate in an autocratic fashion. He saw Time as important, but also fun, which accounted for its heavy coverage of celebrities and politicians, the entertainment industry and pop culture, criticizing it as too light for serious news. Around the time they were raising USD 100,000 from wealthy Yale alumni such as Dwight Morrow, Henry P. Davison and Martin Egan, Larsen purchased 550 shares of Time Inc., using money he obtained from selling RKO stock which he had inherited from his father, who was the head of the Benjamin Keith theatre chain in New England. In his book, The March of Time, 1935–1951, Raymond Fielding also noted that Larsen. was originally circulation manager and then general manager of Time,. later publisher of Life, and in the long history of the corporation the most influential and important figure afterLuce.
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