Time Warner names publishing unit CEO ahead of spinoff

Time Warner announced Monday that Joseph Ripp will be named chief executive of its publishing arm Time Inc., which is to be spun off by the media conglomerate. "Joe is a seasoned executive who has been immersed in the intersection of digital, advertising and publishing for the past decade," Time Warner CEO Jeff Bewkes said. "He is respected as a strategic leader who has delivered financial results throughout his career, and he also happens to have a thorough understanding of Time Inc.'s business. "We have great confidence that Joe will maximize Time Inc.'s iconic brands, scale and industry-leading position to create value for its stockholders." Ripp is currently CEO of OneSource Information Services and will begin his new role in September. He worked at Time from 1985, and held several executive level positions there and at Time Warner over the course of nearly 20 years. The media giant announced in March that it would separate the unit which includes including its flagship Time magazine, People, Fortune and Sports Illustrated as part of an effort to create "strategic clarity." The announcement came after unsuccessful talks to sell some of the titles in the group, and as rival News Corp undergoes a similar split. Ripp will succeed Laura Lang, who indicated that she did not want to continue in the role following the spinoff.