Time Warner Names Joe Ripp CEO of Time Inc.

Time Warner Inc. named a former finance chief of Time Inc., Joe Ripp, as chief executive of the magazine unit, ahead of its planned spinoff from the media conglomerate.

Mr. Ripp took the job after another former Time Inc. chief financial officer, Michael Klingensmith, turned down the position, said people familiar with the situation. Mr. Klingensmith, who was seen a few weeks ago as a leading candidate, wanted to continue in his present job as chief executive of Star Tribune Media Co in Minneapolis, the people said.

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