The former chief executive officer of Time Inc. is interested in purchasing Fortune and Money magazines, as well as the Fortune conference business, from new owner Meredith Corp., reports Keith Kelly of the New York Post.
Kelly reports that Joe “Ripp was the CEO who steered Time Inc. through its spinoff from Time Warner in 2014 but stepped down in September 2016 due to health concerns and turned the reins of the struggling company over to Rich Battista, who ended up selling the company for $2.8 billion.
“Ripp recently teamed up with one of his sons, Daniel, to form a Charlotte, NC, investment company, Cannondale Capital Investors.
“‘We are shopping for small family-owned businesses with less then $20 million of revenue in the Charlotte area,’ he said.
“Ripp’s other son, Brendan, now at National Geographic, is a former publisher of Fortune.”
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