When Joe Ripp took the reins of TIME as CEO post the spin-off in 2014 (since replaced by Rich Battista), he made it clear that TIME would no longer be associated as a magazine company, but as a full-fledged media company[5]. TIME deployed a robust digital transformation strategy, including redesigning the organizational structure and enhancing its business model in a number of key ways.

https://rctom.hbs.org/submission/digitize-or-die-how-the-nations-largest-magazine-publisher-is-coping-with-digital-transformation/