Both are Yale graduates and editors at the Daily News, discovered an unfilled niche on American journalism: the need for a publication that would ‘organize and departmentalize the news of the week’. The first issue of Time was published on March 3, 1923.
By the third year it had reached 110 000 with advertising revenue of $283 000, yet a profit remained elusive.
Time Sep. 15, 1947
Luce turned his attention to the family domestic front with House and Home in 1952 and published a magazine that set the standard for sports journalism with Sports Illustrated in 1954.
In 1989, looking at the growth of media conglomerate around them Time Inc and Warner Communications married their two franchises in a colossal merger. The company was now represented across all media platforms and had the resources to grow further.
Time continues to be among the top-selling magazines in the United States today.
History of Time Inc