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Time Inc. Names CFO, Quietly Drops ‘Magazines’ From Announcements

logo_time_inc_052107.gifImagining a magazineless Time Inc.

Via the Revolving Door:

May 21, 2007: Howard Averill has been named chief financial officer at Time Inc. He had been executive vice president and chief financial officer at NBC Television Group. (release)

Why this is important? There’s mounting speculation and pressure from investors for Time Warner to sell Time Inc., and Averill would be a key player in any sale. Plus, check out the “digitizing” of language in Time Inc. press releases, namely, the subtle omission of the word “magazines”:

HOWARD AVERILL NAMED CHIEF FINANCIAL OFFICER OF TIME INC.

(New York, May 21, 2007) — Today Time Inc. Chairman and CEO Ann Moore announced Howard Averill as Chief Financial Officer. Averill will begin his new position as of June 6, 2007.

In this role, Averill will oversee all of Time Inc.’s financial functions, including budgeting and forecasting, financial reporting, cash management, internal audit, tax, as well as Time Inc.’s information technology department.

Most recently Averill served as Executive Vice President and CFO of NBC Television Group. He originally joined NBC Universal in 1997 and served in a variety of CFO roles in New York and Los Angeles including positions with MSNBC, NBC News, NBC West Coast and NBC Universal Television Group.

Moore explained, “Howard’s multi-media experience is critical as Time Inc. continues its digital transformation. His financial background in television and online, will enhance Time Inc.’s own expansion into a multi-media content company, reaching consumers on every platform.”

Previous to NBC, Averill was an executive at ITT/Sheraton Corporation in New York and also held positions with Pepsi-Cola and Arthur Andersen & Co where he earned his CPA.

Averill, holds a B.A. in Economics from the University of Vermont and an M.B.A. from the University of North Carolina-Chapel Hill.

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