Details have been released as to how much the acquisition is costing Time Inc., as of now. American Express publishing will join Time Inc. at the beginning of the new quarter/January 2014.
This is about the same time that Time Inc. will cut ties from its long time parent company Time Warner.
Time Inc. and American Express publishing have been business partners for about 20 years, so it is not a big surprise that Time Inc would acquire the company that publishing five magazines to their 21 titles.
Time Inc. magazines include: Time, (their namesake-of course) People, Sports Illustrated, Entertainment Weekly, Real Simple, and Southern Living. While American Express publishing includes: Food&Wine, Travel + Leisure, Departures, Executive Travel, and Black Ink.