Time (magazine)

==History==
===20th century===
[[File:Time Magazine - first cover.jpg|thumb|The cover of the first issue of ''Time'' on March 3, 1923, featuring [[Speaker of the United States House of Representatives|Speaker of the House]] [[Joseph Gurney Cannon|Joseph G. Cannon]]]]
''Time'' has been based in New York City since its first issue published on March 3, 1923, by [[Briton Hadden]] (1898–1929) and [[Henry Luce]] (1898–1967). It was the first weekly news magazine in the United States.<ref name="History of Time">{{cite news|url=http://www.time.com/time/archive/collections/0,21428,c_time_history,00.shtml|archive-url=https://web.archive.org/web/20050304031329/http://www.time.com/time/archive/collections/0,21428,c_time_history,00.shtml|url-status=dead|archive-date=March 4, 2005|title=History of Time|magazine=Time}}</ref> The two had previously worked together as chairman and managing editor, respectively, of the ''[[Yale Daily News]]''. They first called the proposed magazine ''Facts'' to emphasize brevity so a busy man could read it in an hour. They changed the name to ''Time'' and used the slogan "Take Time&nbsp;– It's Brief".<ref>Brinkley, ''The Publisher'', pp 88–89</ref> Hadden was considered carefree and liked to tease Luce. 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.

''Time'' set out to tell the news through people, and until the late 1960s, the magazine's cover depicted a single person. More recently, ''Time'' has incorporated "People of the Year" issues, which have grown in popularity over the years. The first issue of ''Time'' featured [[Joseph Gurney Cannon|Joseph G. Cannon]], the retired [[Speaker of the United States House of Representatives|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 magazine's issue from February 28, 1938, in commemoration of its 15th anniversary.<ref>{{cite web |url=http://www.brycezabel.com/instanthistory/2006/03/time_magazine_f.html |title=TIME MAGAZINE: First Issue, March 3, 1923 |work=Instant History |publisher=Bryce Zabel.com |date=March 2, 2006 |access-date=January 26, 2014 |archive-date=June 24, 2013 |archive-url=https://web.archive.org/web/20130624132548/http://www.brycezabel.com/instanthistory/2006/03/time_magazine_f.html |url-status=dead }}</ref> The cover price was 15¢ (equivalent to ${{Inflation|US|0.15|1923|r=2|fmt=c}} in {{Inflation-year|US}}).

Following Hadden's death in 1929, Luce became the dominant man at ''Time'' and a significant figure in the history of 20th-century media. According to ''Time Inc.: The Intimate History of a Publishing Enterprise 1972–2004'' by Robert Elson, "[[Roy Edward Larsen]]&nbsp;... was to play a role second only to Luce's in the development of Time Inc". 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 (magazine)|Life]]'', for many years president of Time Inc., and in the long history of the corporation the most influential and important figure after Luce".{{citation needed|date=May 2015}}

Around the time, they were raising $100,000 from wealthy [[Yale University]] alumni, including Henry P. Davison, partner of [[J.P. Morgan & Co.]], publicity man Martin Egan and J.P. Morgan & Co. banker Dwight Morrow; Henry Luce and Briton Hadden hired Larsen in 1922. Larsen was a [[Harvard University]] graduate, and Luce and Hadden were Yale graduates. After Hadden died in 1929, Larsen purchased 550 shares of Time Inc., using money he obtained from selling [[RKO Pictures|RKO]] stock he had inherited from his father, who was the head of the [[Benjamin Franklin Keith]] theater chain in [[New England]]. However, after Briton Hadden's death, the largest Time, Inc. stockholder was Henry Luce, who ruled the media conglomerate in an autocratic fashion; "at his right hand was Larsen", Time Inc.'s second-largest stockholder, according to ''Time Inc.: The Intimate History of a Publishing Enterprise 1923–1941''. In 1929, Roy Larsen was also named a Time Inc. director and vice president. J. P. Morgan retained a certain control through two directorates and a share of stocks, both over ''Time'' and ''[[Fortune (magazine)|Fortune]]''. Other shareholders were [[Brown Brothers Harriman & Co.]], and the New York Trust Company ([[Standard Oil]]).{{citation needed|date=May 2015}}

After ''Time'' began publishing weekly in March 1923, Roy Larsen increased its circulation by using U.S. radio and movie theaters worldwide. It often promoted both ''Time'' magazine and U.S. political and corporate interests. According to ''[[The March of Time]]'', as early as 1924, Larsen had brought ''Time'' into the infant radio business by broadcasting a 15-minute sustaining quiz show entitled ''Pop Question'' which survived until 1925. Then in 1928, Larsen "undertook the weekly broadcast of a 10-minute programme series of brief news summaries, drawn from current issues of ''Time'' magazine&nbsp;... which was originally broadcast over 33 stations throughout the United States".{{citation needed|date=May 2015}}

Larsen next arranged for the 30-minute radio program ''[[The March of Time]]'' to be broadcast over [[CBS]] beginning on March 6, 1931. Each week, the program presented a dramatization of the week's news for its listeners; thus ''Time'' magazine itself was brought "to the attention of millions previously unaware of its existence", according to ''Time Inc.: The Intimate History of a Publishing Enterprise 1923–1941'', leading to increased circulation during the 1930s. Between 1931 and 1937, Larsen's ''The March of Time'' radio program was broadcast over CBS radio, and between 1937 and 1945, it was broadcast over NBC radio&nbsp;– except between 1939 and 1941, when it was not aired. ''[[People (magazine)|People]]'' magazine was based on ''Time''{{'s}} "People" page.

Time Inc. stock owned by Luce at the time of his death was worth about $109&nbsp;million {{USDCY|109000000|1967}}, and it had been yielding him a yearly dividend of more than $2.4&nbsp;million {{USDCY|2400000|1967}}, according to Curtis Prendergast's ''The World of Time Inc.: The Intimate History of a Changing Enterprise 1957–1983''. The Larsen family's Time Inc. stock was worth around $80&nbsp;million during the 1960s. Roy Larsen was both a Time Inc. director and the chairman of its executive committee, later serving as Time Inc.'s board's vice chairman until the middle of 1979. On September 10, 1979, ''[[The New York Times]]'' wrote, "Mr. Larsen was the only employee in the company's history given an exemption from its policy of mandatory retirement at age 65."

In 1987, [[Jason McManus]] succeeded [[Henry Grunwald (editor)|Henry Grunwald]] as editor-in-chief,<ref>{{cite news|url=https://archive.fortune.com/magazines/fortune/fortune_archive/1995/01/16/201800/index.htm|date=January 16, 1995|title=In the Shoes of Henry R. Luce|first=Gerald M.|last=Levin|magazine=Fortune|access-date=April 7, 2020|language=en-US|archive-date=April 7, 2020|archive-url=https://web.archive.org/web/20200407211901/https://archive.fortune.com/magazines/fortune/fortune_archive/1995/01/16/201800/index.htm|url-status=dead }}</ref> and oversaw the transition before [[Norman Pearlstine]] succeeded him in 1995.

In 1989, when Time, Inc. and Warner Communications merged, ''Time'' became part of [[Time Warner]], along with [[Warner Bros.]]

===21st century===
In 2000, ''Time'' became part of [[WarnerMedia#AOL Time Warner (2001–2003)|AOL Time Warner]], which reverted to the name Time Warner in 2003.

In 2007, ''Time'' moved from a Monday subscription/newsstand delivery to a schedule where the magazine goes on sale Fridays and is delivered to subscribers on Saturday.<!--dead link<ref>{{cite web|url=http://www.chron.com/disp/story.mpl/ap/fn/4123937.html|title=Chron.com}}</ref>--> The magazine was published on Fridays when it began in 1923.

In early 2007, the year's first issue was delayed roughly a week due to "editorial changes", including the layoff of 49 employees.<ref>{{cite web|url=http://gawker.com/229978/time-inc-layoffs-surveying-the-wreckage|title=Time Inc. Layoffs: Surveying the Wreckage|author=((abalk2)) |date=January 19, 2007|access-date=December 15, 2007|website=Gawker|archive-date=October 25, 2012|archive-url=https://web.archive.org/web/20121025163020/http://gawker.com/229978/time-inc-layoffs-surveying-the-wreckage|url-status=dead }}</ref>

In 2009, Time announced it was introducing ''Mine'', a personalized print magazine mixing content from various Time Warner publications based on the reader's preferences. The new magazine was met with a poor reception, with criticism that its focus needed to be more broad to be truly personal.<ref>{{cite web| url=http://platform.idiomag.com/2009/04/times-foray-into-personalized-publishing-time-mine/| title=Time's foray into personalized publishing: Time Mine | access-date=December 15, 2007| date=April 27, 2009| url-status=dead| website=[[idio]]| archive-url=https://web.archive.org/web/20090430001058/http://platform.idiomag.com/2009/04/times-foray-into-personalized-publishing-time-mine/| archive-date=April 30, 2009}}</ref>

The magazine has an online archive with the unformatted text for every article published. The articles were indexed and converted from scanned images using [[optical character recognition]] technology. The minor errors in the text are remnants of the conversion to the digital format.

In January 2013, Time Inc. announced that it would cut nearly 500 jobs – roughly 6% of its 8,000 staff worldwide.<ref>{{cite news |url=https://www.wsj.com/articles/SB10001424127887324610504578273830154238010 |url-access=subscription |first1=Keach |last1=Hagey |first2=Jeffrey |last2=Trachtenberg |title=Time Inc. Cutting Staff |newspaper=[[The Wall Street Journal]] |date=January 30, 2013 |access-date=February 12, 2013 |archive-date=February 17, 2015 |archive-url=https://web.archive.org/web/20150217042510/http://www.wsj.com/articles/SB10001424127887324610504578273830154238010 |url-status=live}}</ref>

Although ''Time'' magazine has maintained high sales, its ad pages have declined significantly.<ref>{{Cite news |url=https://www.theguardian.com/media/greenslade/2013/jan/31/time-magazine-downturn |title=Time Inc to Shed 500 Jobs |first=Roy |last=Greenslade |author-link=Roy Greenslade |department=Greenslade Blog |newspaper=[[The Guardian]] |location=London |date=January 31, 2013 |access-date=February 12, 2013 |archive-date=March 4, 2014 |archive-url=https://web.archive.org/web/20140304223958/http://www.theguardian.com/media/greenslade/2013/jan/31/time-magazine-downturn |url-status=live}}</ref>

Also in January 2013, Time Inc. named Martha Nelson as the first female editor-in-chief of its magazine division.<ref name="Haughney">{{cite news| url=https://www.nytimes.com/2013/09/18/business/media/time-magazine-names-its-first-female-managing-editor.html?_r=0| newspaper=[[The New York Times]]| first=Christine| last=Haughney| title=Time Magazine Names Its First Female Managing Editor| date=September 17, 2013| access-date=February 25, 2017| archive-date=July 1, 2017| archive-url=https://web.archive.org/web/20170701102917/http://www.nytimes.com/2013/09/18/business/media/time-magazine-names-its-first-female-managing-editor.html?_r=0| url-status=live}}</ref> In September 2013, [[Nancy Gibbs]] was named as the first female managing editor of ''Time'' magazine.<ref name="Haughney"/>

In November 2017, [[Meredith Corporation]] announced its acquisition of Time, Inc., backed by [[Koch brothers|Koch Equity Development]].<ref name="NYT 2017">{{cite news| url=https://www.nytimes.com/2017/11/26/business/dealbook/time-inc-meredith-corporation-koch-brothers.html| title=Time Inc. Sells Itself to Meredith Corp., Backed by Koch Brothers| last1=Ember| first1=Sydney| last2=Ross|first2=Andrew| newspaper=The New York Times| date=November 26, 2017| access-date=November 27, 2017| archive-date=November 26, 2017| archive-url=https://web.archive.org/web/20171126222514/https://www.nytimes.com/2017/11/26/business/dealbook/time-inc-meredith-corporation-koch-brothers.html| url-status=live}}</ref>

In 2017, editor and journalist [[Catherine Mayer]], who also founded the [[Women's Equality Party]] in the UK, sued ''Time'' through attorney [[Ann Olivarius]] for sex and age discrimination.<ref>{{cite news |last=Graham-Harrison |first=Emma |date=August 5, 2017 |url=https://www.theguardian.com/media/2017/aug/05/catherine-mayer-time-magazine-sex-discrimination-lawsuit |title=Top journalist sues Time magazine for 'sex and age discrimination' |newspaper=The Guardian |location=London |archive-url=https://web.archive.org/web/20200809115458/https://www.theguardian.com/media/2017/aug/05/catherine-mayer-time-magazine-sex-discrimination-lawsuit |archive-date=August 9, 2020}}</ref><ref>''Mayer v. Time, Inc'', [https://www.courthousenews.com/wp-content/uploads/2017/07/Mayer-v-Time.pdf No. 1:2017cv05613] {{Webarchive|url=https://web.archive.org/web/20200809190513/https://www.courthousenews.com/wp-content/uploads/2017/07/Mayer-v-Time.pdf |date=August 9, 2020 }}</ref> The suit was resolved in 2018.<ref>{{cite news |last1=Thorpe |first1=Vanessa |last2=Graham-Harrison |first2=Emma |date=September 8, 2018 |url=https://www.theguardian.com/world/2018/sep/08/sandi-toksvig-reveals-60-qi-pay-gap-from-stephen-fry |title=Sandi Toksvig sparks new gender pay row over QI fee |newspaper=The Guardian |location=London |archive-url=https://web.archive.org/web/20200809135153/https://www.theguardian.com/world/2018/sep/08/sandi-toksvig-reveals-60-qi-pay-gap-from-stephen-fry |archive-date=August 9, 2020}}</ref>

In March 2018, only six weeks after the closure of the sale, Meredith announced that it would explore the sale of ''Time'' and sister magazines ''[[Fortune (magazine)|Fortune]]'', ''[[Money (magazine)|Money]]'' and ''[[Sports Illustrated]]'', since they did not align with the company's lifestyle brands.<ref>{{cite news| url=https://variety.com/2018/biz/news/meredith-layoffs-1200-time-inc-magazine-sale-time-si-fortune-money-1202732892/| title=Meredith Laying Off 1,200, Will Explore Sale of Time, SI, Fortune and Money Brands| last=Spangler| first=Todd| date=March 21, 2018| magazine=[[Variety (magazine)|Variety]]| access-date=March 22, 2018| language=en-US| archive-date=July 27, 2020| archive-url=https://web.archive.org/web/20200727010610/https://variety.com/2018/biz/news/meredith-layoffs-1200-time-inc-magazine-sale-time-si-fortune-money-1202732892/| url-status=live}}</ref>

In October 2018, Meredith Corporation sold ''Time'' to [[Marc Benioff]] and his wife Lynne for $190&nbsp;million. Although Benioff is the chairman and co-CEO of [[Salesforce.com]], ''Time'' was to remain separate from that company, and Benioff would not be involved in the magazine's daily operations.<ref>{{cite news |url=https://techcrunch.com/2018/09/16/marc-and-lynne-benioff-will-buy-times-magazine-from-meredith-for-190m/ |title=Marc and Lynne Benioff was to buy ''Time'' from Meredith for $190M |work=[[TechCrunch]] |date=September 17, 2018 |last=Shu |first=Catherine |access-date=September 17, 2018 |archive-date=September 17, 2018 |archive-url=https://web.archive.org/web/20180917101605/https://techcrunch.com/2018/09/16/marc-and-lynne-benioff-will-buy-times-magazine-from-meredith-for-190m/ |url-status=live}}.</ref><ref>{{cite web| url=https://www.thewrap.com/time-magazine-staffs-up-under-new-ownership/| title=Time Magazine Staffs Up Under New Ownership| website=[[TheWrap]]| first=Jon| last=Levine| date=December 14, 2018| access-date=June 7, 2019| archive-date=June 7, 2019| archive-url=https://web.archive.org/web/20190607071357/https://www.thewrap.com/time-magazine-staffs-up-under-new-ownership/| url-status=live}}</ref>

In late April 2023, ''Time'' announced the elimination of the website's paywall effective June 1, 2023.<ref>{{Cite web|url= https://www.axios.com/2023/04/27/time-removes-digital-paywall|title= Exclusive: Time to remove digital paywall|date=April 27, 2023|work=Axios}}</ref>

===''Time'' Canada===
From 1942 until 1979, ''Time'' had a Canadian edition that included an insert of five pages of locally produced content and occasional Canadian covers. Following changes in the tax status of Canadian editions of American magazines, ''Time'' closed Canadian bureaus, except for [[Ottawa]], and published identical content to the US edition but with Canadian advertising.<ref>{{cite news| url=https://www.nytimes.com/1981/01/02/business/time-still-in-the-black-in-canada.html| title=Time Still in the Black in Canada| newspaper=The New York Times| date=January 2, 1981| access-date = December 6, 2021| archive-date=December 6, 2021| archive-url=https://web.archive.org/web/20211206044037/https://www.nytimes.com/1981/01/02/business/time-still-in-the-black-in-canada.html| url-status=live}}</ref>

In December 2008, ''Time'' discontinued publishing a Canadian edition.<ref>{{cite web |url=http://www.mastheadonline.com/news/2008/20081210942.shtml |title=''Time'' Canada to close |work=Masthead Online |date=December 10, 2008 |access-date=September 6, 2011 |archive-date=December 3, 2013 |archive-url=https://web.archive.org/web/20131203010735/http://www.mastheadonline.com/news/2008/20081210942.shtml |url-status=live }}</ref>