The Last Days of Time Inc.
An oral history of how the pre-eminent media organization of the 20th century ended up on the scrap heap.
By SRIDHAR PAPPU and JAY STOWE MAY 21, 2018
It was once an empire. Now it is being sold for parts.
Time Inc. began, in 1922, with a simple but revolutionary idea hatched by Henry R. Luce and Briton Hadden. The two men, graduates of Yale University, were rookie reporters at The Baltimore News when they drew up a prospectus for something called a “news magazine.†After raising $86,000, Mr. Hadden and Mr. Luce quit their jobs. On March 3, 1923, they published the first issue of Time: The Weekly News-Magazine.
https://www.nytimes.com/interactive/2018/05/19/business/media/time-inc-oral-history.html