September 30, 2016 Last Updated 10:05 am

Time Inc. says it has reached settlement with the NewsGuild

NEW YORK, NY, September 30, 2016 — Time Inc. announced today that its employees who are members of the NewsGuild (The Newspaper Guild) have voted to accept its offer to settle matters between them and enter into a collective bargaining agreement consistent with the terms of the settlement agreement. The NewsGuild represents approximately 200 print editorial employees at Time, Fortune, Money, Sports Illustrated and People.

“We are very pleased that the Guild members have ratified this contract, which we believe to be in the best interest of all Time Inc. stakeholders. The contract provides Time Inc. with the operational flexibility necessary to succeed in today’s transformative media environment,” said Greg Giangrande, Time Inc.’s EVP and Chief Human Resources Officer.

Guild members had been working without a contract since it expired on August 2014. Time Inc. had imposed the terms of its last, best and final offer in November 2014 asserting that the parties were at impasse. Whether impasse had been reached was a subject of a NLRB hearing which was decided in the Company’s favor in August 2016.

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