Mr. Battista, who took the helm of Time Inc. in September, said he was eager to continue transforming Time Inc. from a print publisher to a multimedia company. Time Inc. is aiming at $100 million in cost cuts this year, and Mr. Battista said the company would continue to be aggressive about cost management, particularly in the print business. Time Inc. said in a statement on Friday that its board had determined it would remain an independent company and that it would pursue its strategic plan, which includes increasing its digital audience and pursuing new opportunities for revenue growth. But one party, an investor group led by Edgar Bronfman Jr. and the media executive Ynon Kreiz, suddenly dropped out, raising questions about the sale of Time Inc. Time Inc. had rejected an offer of at least $18 a share from Mr. Bronfman’s group late last year. “This is a great company,” Rich Battista, the chief executive of Time Inc., said in an interview Friday morning. Decides Not to Sell Itself - By SYDNEY EMBERAPRIL 28, 2017 Time Inc., the home of Sports Illustrated, People and Time, has decided not to sell itself, ending a monthslong bidding process that could have led to the end of an era for the country’s most storied magazine publisher.
