Time Inc. filed papers to begin the process of separating from Time Warner to become a standalone company sometime during the first half of next year. Though the filing was light on specific financial details, such as how much stock Time Warner shareholders will get in the spin off, it did have some notable tidbits about the company. Here are some of the more notable factoids:
1. People magazine is Time Inc.’s largest magazine title, generating almost 20% of its $3.7 billion in revenue last year.
2. Three of the company’s 90 magazines — People, Time, and Sports Illustrated — have circulations of more than 3 million.
3. Time Inc. employs approximately 7,800 people worldwide.
4. Former CEO Laura Lang received $7.6 million in salary, bonuses, stock options and other compensation for the fiscal year ended December 31, 2012.
5. As of September 30, the company had $63 million in cash and cash equivalents and $37 million in long-term debt obligations.
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