Incoming Time Inc. CEO Joe Ripp rallied the troops at his first meeting for top execs, saying they need to be empowered and work efficiently for the company to succeed once it spins off from Time Warner. “We can’t really consider ourselves a magazine company anymore,” he said at the quarterly management meeting, according to people present. “We’re a media company. If you’re People magazine, your competition is Facebook, Twitter.” There were no big announcements, but Ripp fielded questions from Fortune managing editor Andy Serwer, then the audience, on a range of topics from acquisitions, compensation and church-state issues.
The room welcomed a handful of employees from American Express Publishing, which Time Inc. just agreed to buy (they were present because AmEx has a management services agreement with Time Inc.) Ripp said he was looking forward to expanding the AmEx titles digitally and taking advantage of their luxury market position. But when asked if he’d buy or sell other magazines, the new CEO seemed to hint that wasn’t his priority. READ THE FULL ARTICLE