Behind Time Inc. Purchase of American Express Publishing Lies a Long History

By: Christine Haughney | New York Times

After a two-decade-long relationship between the magazine giant Time Inc. and American Express, Time Inc. plans to close quickly on its purchase of American Express’s publishing division.

“This 20-year courtship is finally being consummated in matrimony,” said Ed Kelly, president and chief executive of the American Express Publishing Corporation. He joked in a phone interview that after such a long engagement, there was no reason to delay the wedding; Time says it expects to close the deal by Oct. 1.