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TimeWarner Is Spinning Off Time Inc - Here's The Departing CEO's Goodbye Letter

Max NisenMar 7, 2013, 05:03 IST

After a deal with Meredith Corporation to sell Time Inc. fell apart, Time Warner has decided to spin off the unit and its iconic magazines (Time, Sports Illustrated, Fortune and Money) into an independent, publicly traded company.

Time Inc. also owns magazines like People, InStyle, and Entertainment Weekly.

Along with that announcement came the news that the company's CEO, Laura Lang, has decided to depart. Newsweek obtained a copy of the memo she sent to staff: