About Time, Inc., the Corporation: Time Inc. is the USA's largest magazine publisher. It is a leader in direct marketing of books, music and video and is one of the world's pre-eminent, broad-based information companies. Time Inc. publishes 25 leading publications, with a readership of more than 111 million, and generated ad revenues twice as large as those of its nearest competitor as of 1994. People, which celebrated its 20th anniversary in 1994, is the No. 1 U.S. magazine in advertising revenue. Time Inc. is also the country's largest regional magazine publisher, owning both Sunset Publishing Corporation, home of Sunset magazine and Sunset Books, and the Southern Progress Corporation, parent company of Southern Living and other titles and publisher of Oxmoor House books. Time Inc.'s direct-marketing and book companies distributed 159 million units worldwide in 1994. Time Life Inc. is America's leading direct-marketer of books, music and video, and Book-of-the-Month Club, with seven separate clubs, is the country's largest book club company. Trade publishers Warner Books and Little Brown publish best-selling fiction and nonfiction. Time Inc.'s journalistic and information-based expertise has served as the basis for an aggressive expansion into broadcast television, cable programming and digital, interactive multimedia, including commercial online services, the Internet, CD-ROMs and Time Warner's Full Service Network.

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