Time Inc

Time Inc. is eliminating nearly 300 jobs as it continues to revamp its huge portfolio of magazines such as Time, People and Sports Illustrated in an effort to adapt as readers and advertisers move to the Internet. The magazine publisher, which is part of the media conglomerate Time Warner Inc., announced to its staff that it was eliminating 289 jobs in various departments across the company, which publishes about 150 magazines. The cuts, which had been widely expected, would bring Time Inc.'

Time Inc. is shutting down Life magazine again, a brand it had resuscitated in late 2004 as a newspaper supplement. Time Inc. said in a statement Monday that it would keep the Life brand going on the Internet, where it will launch a website with photos from its massive image collection, and by publishing books. Life had been carried in The Times and 102 other newspapers. Time Inc. cited the "decline in the newspaper business" and poor advertising outlook as factors in its decision. Time Inc.

Indonesia's Supreme Court has ordered Time magazine to pay $106 million for defaming former dictator Suharto by alleging that his family amassed billions of dollars during his 32-year rule. The May 1999 cover story in the magazine's Asian edition said much of that money had been transferred to Austria before Suharto stepped down amid protests in 1998. A panel of three judges, including a retired general, on Aug. 31 overturned lower court decisions in Time's favor.

Magazine publisher Time Inc. has reached a settlement with California and 22 other states after a probe of its subscription renewal practices. Under the agreement announced Tuesday, Time Inc., owned by media conglomerate Time Warner Inc., will pay $4.5 million for the states' costs for investigation and establish a fund for consumers' restitution. The Pennsylvania and California attorneys general said Time Inc.'s payout would amount to $4.3 million if all affected consumers responded. Time Inc.

Time Inc. plans to prune its huge magazine portfolio by seeking buyers for 18 of its smaller titles, allowing it to concentrate on larger properties including Time, People and Sports Illustrated. The titles to be sold include Popular Science, Outdoor Life, Field & Stream and Yachting, the company said Tuesday. News of the planned sales was first reported by Advertising Age magazine. In a memo to Time Inc.

Journalists and media observers voiced anger and dismay Thursday over the decision by the publisher of Time magazine to give information about one of its reporters' confidential sources to a grand jury. Some said the announcement by Norman Pearlstine, Time Inc.'s editor in chief, confirmed their fears that increasing corporate ownership of media organizations had become a threat to press freedom. But others said that Time Inc., a unit of Time Warner Inc.

The publisher of Time magazine, declaring it had no choice but to obey the law, said Thursday that it would turn over internal documents to a federal prosecutor in the hope that one of its reporters would not have to go to jail for refusing to reveal his sources in a Justice Department investigation. Time Inc.'

Time magazine and New York Times reporters, held in contempt for refusing to name sources, tried to stay out of jail by arguing for home detention after Time Inc. surrendered its reporter's notes to a prosecutor Friday. Producing the documents makes it unnecessary for Time reporter Matthew Cooper to testify to the federal grand jury investigating the leak of a CIA officer's identity, Cooper's attorneys argued in papers filed with a federal judge. "The decision of Time Inc.

A special prosecutor said Tuesday that a Time magazine reporter had to submit to questioning or face jail in connection with an investigation into the outing of a CIA operative, despite a decision last week by the magazine's corporate parent to cooperate in the probe. Setting the stage for a hearing today, federal prosecutor Patrick J. Fitzgerald said in court papers that he needed the testimony of Matthew Cooper, even though Time Inc.

A New York Times reporter was jailed Wednesday for refusing to submit to questioning by a special prosecutor investigating possible wrongdoing by the Bush administration, but a Time magazine reporter avoided jail at the last minute by agreeing to cooperate with the government. U.S. District Judge Thomas F.