Printer Friendly

AMERICAN EXPRESS PUBLISHING AND TIME INC. FINALIZE JOINT MANAGEMENT AGREEMENT

 NEW YORK, March 23 /PRNewswire/ -- American Express Travel Related Services Company, Inc. ("TRS"), and Time Inc. today announced that they have finalized an agreement under which Time Inc. will immediately assume management responsibility for most of American Express Publishing Corporation's operations, including its core lifestyle magazines, Travel & Leisure and Food & Wine.
 Under the arrangement, Time Inc. will receive an annual fee for managing American Express's publishing businesses, as well as incentives for improving the profits of the publishing unit.
 It was also announced that Dan Brewster has been named chief executive officer of American Express Publishing. Brewster, who has been one of the principal Time executives participating in the discussions with American Express, was most recently associate publisher and general manager of LIFE magazine.
 In addition to managing the lifestyle magazines, Time will also have operating responsibility for a range of American Express customer publications, including "Your Company," a magazine for TRS small business customers, "Departures," a special magazine for Platinum Cardmembers, and "SkyGuide," a monthly airline flight guide for Cardmembers.
 "We continue to view our publishing operation as one that adds considerable value to our relationships with key TRS customers. This unique partnership with Time Inc. has the potential to help us significantly strengthen our customer relationships," said Jonathan S. Linen, president, American Express Travel Related Services Company, Inc.
 "We are quite enthusiastic about the opportunity to add our considerable publishing experience and expertise to the already well established American Express properties. It's a natural and comfortable fit and a relationship which we expect will be mutually beneficial," said Reginald K. Brack Jr., chairman and chief executive officer of Time Inc.
 Operating management of the American Express publishing unit will be the responsibility of Time Inc. Ventures, a Time Inc. subsidiary that encompasses Time's regional and special interest magazines and development activities.
 Time management will be subject to the oversight of an advisory board comprised of American Express and Time executives.
 -0- 3/23/93
 /CONTACT: Cory Shields of American Express, 212-640-4868; or Peter Costiglio of Time Inc., 212-522-3927/
 (TWX AXP)


CO: Time Inc.; American Express Travel Related Services Company, Inc. ST: New York IN: PUB SU: JVN PER

GK-SM -- NY056 -- 8720 03/23/93 14:00 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 23, 1993
Words:369
Previous Article:WATERHOUSE INVESTOR SERVICES REPORTS RESULTS
Next Article:NYTEST ENVIRONMENTAL INC. ANNOUNCES FOURTH QUARTER 1992 RESULTS
Topics:


Related Articles
AMERICAN EXPRESS COMPLETES FINAL STEPS TO PURCHASE LIFECO TRAVEL SERVICES
AMERICAN EXPRESS AND AT&T ANNOUNCE JOINT INITIATIVE FOR SMALL BUSINESS
FLUOR DANIEL AND JAAKKO POYRY ANNOUNCE JOINT ENTITY
AMERICAN EXPRESS PUBLISHING AND TIME INC. ANNOUNCE JOINT MANAGEMENT AGREEMENT
RICHARD B. BARTHELMES JOINS AMERICAN EXPRESS PUBLISHING AS EXECUTIVE VICE PRESIDENT/GROUP PUBLISHING DIRECTOR AND PUBLISHER, TRAVEL & LEISURE
AmEx acquires CineWorld stake.
US Airways Express Renews Agreement With CCAIR.
Severstal North America, Inc. Completes Asset Purchase Of Rouge Industries, Inc.
NANNACO, Inc. Offered $11M/Yr. in Crude Order Fill; Forecasts $4M in Revenues.
Beyond mp3 Players: Creating A Magazine Playlist.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters