It was just a year ago that Time Inc decided to buy XoJane.com and its sister site Xovain.com. When they bought the websites they also got magazine industry veteran Jane Pratt. The acquisition was part of then CEO Joe Ripp's digital strategy which included buying up anything that was in the company's price range to rapidly expand its digital offerings. It was an expansion by acquisition strategy. However three months ago, news surfaced that Jane Pratt wasn't happy with the situation and was trying to exit the company with her websites by buying them back from Time Inc. This came after Ms. Pratt whose name was said to be in the mix to take over as InStyle's editor in chief was passed over. But nothing panned out as far as Ms. Pratt's rumored plans to exit. Fast Forward to the present, and now it looks like Time Inc is the one that wants out of the deal with Jane Pratt and her websites and they may be giving her some time to find a new home for them. According to the NY Post, Time Inc CEO Rich Battista who facilitated the acquisition of websites like HelloGiggle.com is ready to undo some of the digital deals including the XOjane deal as they haven't really added any value. Its as if he's cleaning up the company so it can be more attractive to a potential buyer.
Time Inc May Cut Jane Pratt and Her Websites XOJane and XOvain Loose
Reviewed by Editor
Wednesday, December 14, 2016