Time Inc is one of the largest and oldest media companies in the United States. Company founders Henry Luce and Briton Hadden published the first issue of Time magazine on March 3, 1923, as the first weekly news magazine in the country. Luce served as the business manager while Hadden was editor-in-chief. According to historical reports on Time Inc, Luce and Hadden annually alternated year-to-year the titles of president and secretary-treasurer. When Hadden suddenly passed away in 1929, Luce assumed his position.
Luce launched the business magazine Fortune in February 1930 and created the pictorial Life magazine in 1934, and later launched House & Home in 1952, then Sports Illustrated in 1954 (although this was not the first iteration of Sports Illustrated). Luce also produced The March of Time radio and newsreel series. By the mid 1960s, Time Inc had become the largest and most prestigious magazine publisher on earth.
In their mission statement in 1922, Time magazine co-founders Henry Luce and Briton Hadden acknowledged that no magazine had yet adapted to the needs of the ever-busier reader who wished to stay informed. The pair set out to fill that void and wound up creating one of the largest media giants on the planet.
Today, Time Inc is comprised of more than 100 brands that produce materials out of 50 global offices, for millions of loyal readers and consumers.