(NEW YORK, NY, June 9, 2016)— Time Inc. announced that the NewsGuild declined to approve a settlement offer to resolve contract negotiations and outstanding litigation. Guild members have been working without a contract since the contract expired on August 2014.

“We are disappointed that the Guild membership has declined to ratify a contract that offered terms to settle litigation that were even more favorable than those in our last, best and final offer. We are committed to continuing to operate under the terms of this offer and in a manner that is in the best interest of all of our employees during this very disruptive time in our industry,” said Time Inc. EVP and Chief Human Resources Officer Greg Giangrande.

While a Guild OnTime publication stated that the offer was voted down by an “overwhelming majority,” voter turnout was reportedly exceedingly low. “Our understanding is that only 15 percent of the Guild membership voted to reject our offer. That’s a miniscule minority not an overwhelming majority,” commented Giangrande.

For now, the rejected offer is off the table and the decision regarding whether the parties bargained to impasse remained before an administrative law judge. Said Giangrande, “If it were not obvious before, the settlement vote reinforces the Company’s legal position that no deal was possible. We remain confident that the judge will rule in the Company’s favor.”

About Time Inc.

Time Inc. (NYSE:TIME) is one of the world's leading media companies, with a monthly global print audience of over 120 million and worldwide digital properties that attract more than 150 million visitors each month, including over 60 websites. Our influential brands include People, Sports Illustrated, InStyle, Time, Real Simple, Southern Living, Entertainment Weekly, Travel + Leisure, Cooking Light, Fortune and Food & Wine, as well as more than 50 diverse titles in the United Kingdom, such as Decanter, Horse & Hound and Wallpaper*. Time Inc. is home to celebrated franchises and events, including the Fortune 500, Time 100, People’s Sexiest Man Alive, Sports Illustrated’s Sportsperson of the Year, the Food & Wine Classic in Aspen, the Essence Festival and the biennial Fortune Global Forum. Hundreds of thousands of people attend our live media events every year. We have been extending the power of our brands through various investments and acquisitions, including the formation of Sports Illustrated Play, a new business devoted to youth and amateur sports, and the acquisitions of INVNT, a company that specializes in live media, and Viant, an advertising technology firm with a specialized people-based marketing platform. We also provide content marketing, targeted local print and digital advertising programs, branded book publishing and marketing and support services, including subscription sales services for magazines and other products, retail distribution and marketing services and customer service and fulfillment services, for ourselves and third-party clients, including other magazine publishers.

CONTACT:

Jill Davison
212-522-0105
Jill.davison@timeinc.com