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TIME INC. ACQUIRES A SECOND IN-STORE MARKETING COMPANY

 NEW YORK, June 28 /PRNewswire/ -- Time Inc. today announced that it has acquired the assets of SMARTDEMO, the in-store demonstration, couponing, sampling and merchandising division of Market Growth Resources, Inc. (MGR), a retail marketing agency located in Wilton, Conn.
 Terms of the acquisition were not disclosed.
 Time Inc. said that it would operate both its previous in-store acquisition, MediaOne, the nation's second largest in-store advertising company, and SMARTDEMO under the umbrella of a new company, Time Inc. In-Store Marketing. Time Inc. In-Store Marketing will be a unit of Time Inc. Ventures, a Time Inc. subsidiary that encompasses Time Inc.'s regional and special interest magazines and other businesses.
 In making today's announcement, Reginald K. Brack, Jr., chairman and chief executive officer of Time Inc., said, "We are pleased to add the SMARTDEMO services to our in-store marketing portfolio. Now we are in the enviable position of being able to offer packaged goods clients a full complement of media and promotional services."
 Robert L. Miller, president of Time Inc. Ventures, added, "Our experience with MediaOne has confirmed our belief in the future of this business, and this latest move gives us the opportunity to participate in this industry on a much larger scale. SMARTDEMO has grown rapidly since its inception in 1991, and we look forward to helping it continue to grow."
 Fred Poust, president of Time Inc. In-Store, added, "We plan to engage clients in a marketing dialogue that has not existed before in the in-store business. We can drive traffic into the stores via advertising in Time Inc.'s magazines, communicate with people once they are in the store via our Time Inc. In-Store distribution systems, and generate a tremendous amount of consumer excitement by deploying Time Warner's unique information and entertainment assets (magazines, videos, cable, and music, etc.) in a variety of ways, such as consumer premiums or special events."
 In addition, Time Inc. In-Store Marketing and Market Growth Resources announced the creation of a strategic alliance to build new businesses and develop new products for the in-store industry.
 MGR is a retail marketing agency with a focus on the retail environment. The company's four principals -- Mickey Goodman, Wes Bray, John Block, and Mickey Jardon, all of whom have extensive packaged- goods, retail, and in-store marketing experience -- founded the firm in 1988. MGR will continue to operate its Strategic Consulting, Promotion Consulting, and Account Marketing businesses.
 Jeff Myers, executive vice president of Time Inc. In-Store, said, "Our alliance with MGR allows us to expand our promotion development and account specific marketing efforts because MGR understands not only our business, but the needs of the manufacturer and the retailer as well."
 Added Mickey Goodman, of MGR, "The credibility and financial strength that Time Inc. brings to the in-store industry will elevate the importance and understanding of in-store in the marketing equation to retailers and manufacturers alike."
 -0- 6/28/93
 /CONTACT: Peter Costiglio of Time Inc., 212-522-3927/


CO: Time Inc.; Market Growth Resources, Inc. ST: New York, Connecticut IN: ADV PUB SU: TNM

MP -- NY060 -- 6334 06/28/93 14:43 EDT
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Publication:PR Newswire
Date:Jun 28, 1993
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