August 5, 2013 – New York, NY – Time Inc. today named Jeffrey J. Bairstow Executive Vice President and Chief Financial Officer, effective September 3. He will be responsible for leading Time Inc.’s financial functions and strategies, including all accounting, budgeting, reporting and tax activities.  In addition, he will have responsibility for Customer Service, IT and Production.  He will also be a key partner to incoming CEO Joseph A. Ripp in Time Inc.’s spin-off from Time Warner.

Mr. Bairstow will succeed Howard Averill, who is transitioning into his new role as Executive Vice President and Chief Financial Officer of Time Warner.

“Jeff is a terrific financial and operating executive, and I believe he is the ideal choice to help guide Time Inc. as it becomes a public company,” said Mr. Ripp. “His intimate knowledge of the digital transformation at play in the media business and his strong public-company financial expertise will be key assets as we shape our independent future.”

Mr. Bairstow joins Time Inc. from Digital First Media (DFM), where he was President. Digital First Media properties combine to form the second largest newspaper chain in the United States; it operates MediaNews Group, 21st Century Media properties (formerly Journal Register Company) and Digital First Ventures. DFM reaches more than 66 million consumers a month with over 800 multi-platform products across 18 states. It boasts such established media brands as the San Jose Mercury News and the Denver Post among its 75 daily publications.

At DFM, Mr. Bairstow helped the company extend the reach of its core media brands across all platforms, ultimately growing digital revenues by over 50 percent during his tenure. Among DFM’s newer offerings, for example, is AdTaxi Private Exchange, a multi-platform advertising exchange that provides high-value advertising opportunities. Additionally, DFM has developed key strategic partnerships and products to develop and scale multiple new content verticals to increase audience, enhance reader experience and better serve advertisers. Before the formation of DFM and his appointment as President, Mr. Bairstow spent a year as Chief Financial Officer of Journal Register Company.

“I have the utmost respect for the business Time Inc. has built,” said Mr. Bairstow. “I share Joe’s enthusiasm about the potential for Time Inc. as a public company, and I am thrilled to be part of the team that will help realize it. I feel that my recent experience at DFM will help us leverage our core brands and content in order to unlock meaningful new revenue streams. I can’t wait to get started.”

Mr. Bairstow brings more than 25 years’ experience as a senior financial and operating executive at both public and private companies. He was Executive Vice President and Chief Financial Officer of CCBR-Synarc, Inc., a clinical trials and imaging entity, where he also served as President of its Global Imaging Division. Earlier, he spent two years as Executive Vice President and Chief Financial Officer for Dendrite International, Inc., a publicly traded leading provider of sales, marketing and compliance solutions for the global pharmaceutical industry. In this role, he supervised all financial operations, including planning, investor relations, technology and internal audit.

Previously, he spent several years at Health Net, Inc., one of the largest publicly traded managed health care companies in the U.S., in a number of roles, including President of the Government and Specialty Services Division and Executive Vice President and Chief Financial Officer of Health Net-California, the company’s flagship HMO. He earlier served as President of America Service Group and RelayHealth. He began his career at Ernst & Young.

Mr. Bairstow is a graduate of Vanderbilt University and received an MBA from Vanderbilt’s Owen School of Business.

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Contacts:

Jane Lehman 212.522.0597 jane_lehman@timeinc.com