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TIME INC. VENTURES NEW NAME OF TIME INC. UNIT

 TIME INC. VENTURES NEW NAME OF TIME INC. UNIT
 LOS ANGELES, Aug. 27 /PRNewswire/ -- Time Inc. Ventures is the new


name of the Time Inc. subsidiary that includes all of Time Inc.'s worldwide development activities as well as its regional and special interest magazine businesses.
 The subsidiary was previously known as Time Publishing Ventures, which will
now be the name of a unit within Time Inc. Ventures. The company decided to drop "publishing" from its principal name because it found it to be limiting.
 In making the announcement about the name change, Robert L. Miller, president of Time Inc. Ventures, said: "Although we'll certainly continue to explore opportunities in the publishing field, we're beginning to invest in
non-publishing businesses as well. That being the case, the former name seemed somewhat inconsistent and did not reflect the full scope of our activities."
 Two recent transactions -- the acquisition of MediaOne, the supermarket advertising and promotion company, and the joint venture with sister company Telepictures Productions, which brought Av Westin to the company to create television programming using the editorial resources of Time Inc. -- are examples of non-publishing projects that the newly named Time Inc. Ventures has originated.
 Time Inc. itself is a wholly owned subsidiary of Time Warner Inc. (NYSE: TWX), the world's leading media and entertainment company with interests in magazine and book publishing, recorded music and music publishing, filmed entertainment and cable television programming and operations.
 -0- 8/27/92
 /CONTACT: Peter Costiglio of Time Warner, 212-522-3927/
 (TWX) CO: Time Inc. Ventures; Time Inc.; Time Warner Inc. ST: California IN: PUB SU:


GK -- NY033 -- 3883 08/27/92 10:56 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Date:Aug 27, 1992
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