Time Inc. Completes Acquisition of IPC Media

Posted on October 17, 2001

Time Inc. announced that it has completed the acquisition of IPC Group Limited, parent company of IPC Media, a UK-based publisher of consumer magazines, from Cinven, a private equity investor in Europe.

IPC owns approximately 100 consumer magazine brands, selling 350 million magazines annually. It is focused on five core areas: Women; TV; Home & Garden; Leisure; and Men's Lifestyle & Entertainment. Its titles target a broad range of audiences and interests and include Britain's biggest-selling magazine What's on TV, plus TV Times, Woman, Woman's Own, Marie Claire, Loaded, NME, Country Life and Horse & Hound.

Michael Pepe, President and CEO of Time Inc. International, to whom IPC will report, said: ``The completion of this acquisition marks a key step in Time Inc.'s growth outside the United States, significantly adding to our existing international flagship brands: Time, Fortune, InStyle and Wallpaper and giving us an important presence in European consumer publishing.''

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