Epiris reveals new name for Time Inc. UK

Two months after London-based Epiris paid about $167 million to acquire Time Inc. UK from Meredith Corp., a new name is being unveiled for the group — TI Media.

The London-based magazine group was originally acquired by Time Warner in 2001 for $1.6 billion when the British company was still known as IPC Media. In 2014, the company officially changed its name from IPC to Time Inc. UK.

Epiris officials said the new name is meant to symbolize its two past corporate names, the T for Time Inc. and the I for IPC — which was originally called International Publishing Co.

“We are proud of all we have achieved as Time Inc. UK over the last four years and, before that, as IPC Media over many years,” said Marcus Rich, Time UK CEO.

“While we wanted our new name to speak to that successful past, we also wanted it to be adaptable to suit the ways we will evolve and look to extend that success under our new ownership. We are now looking forward to exploring those new opportunities as TI Media,” Rich added.

That IPC acquisition in mid-2001 ended up being an albatross around the neck of Time Inc. when it was spun off again as its own public company in 2014.

Time Warner CEO Jeff Bewkes saddled the newly spun-off Time Inc. with $1.6 billion in debt — primarily to pay back Time Warner for the high-priced acquisition — which at the time of the 2014 deal had lost much of its value. In Britain as in the United States, newsstand sales suffered and advertisers were shifting more of their ad dollars to digital.

The British publisher includes about 40 titles, including Horse & Hound, Woman’s Weekly and Wallpaper.

They became part of Meredith Corp. when the Des Moines-based publisher completed a $2.8 billion acquisition of Time Inc. in January. Meredith quickly took down the Time Inc. off the old Liberty Street headquarters on Day One of the acquisition, but the Time Inc. UK brand survived for a few more months.

The new name will take effect on June 11.

“TI Media is proud of its past and confident of the future,” said the company’s executive chairman Sir Bernard Gray. “Our new name opens the next chapter of our story with familiarity and new energy.”

Epiris has been pruning the portfolio since the takeover. On Monday, it said it would stop publishing a digital edition of In Style UK after stopping the British print version two years earlier. Last week, it also announced it was folding Look.

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