NEW YORK (AP) — Time Warner Inc. said Monday that it completed the spinoff of magazine publisher Time Inc. into a separate, publicly traded company, as it focuses on its other media properties.
As part of the spinoff, Time Warner shareholders were given one share of Time for every eight Time Warner shares they owned as of May 23. Time Inc. publishes People, Time and Sports Illustrated magazines, among other titles, and had been a cornerstone of Time Warner.
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