On March 6, 2013, Time Warner announced plans to spin-off Time Inc. into a publicly traded company. Time Warner's chairman/CEO Jeff Bewkes said that the split would allow Time Warner to focus entirely on its television and film businesses, and Time Inc. to focus on its core print media businesses. It was announced in May 2014 that Time Inc. would become a publicly traded company on June 6 of that year. The spin-off was completed on June 9, 2014. As of September 13, 2016, Rich Battista was promoted to president and CEO, replacing Joseph A. Ripp.
