Quad/Graphics, Time agree on new distribution deal
SUSSEX, Wis. (AP) — Quad/Graphics says it has agreed to a new deal worth more than $900 million to print the majority of publisher Time Inc.'s magazines.
The Sussex, Wis.-based company said Monday that it will be responsible for more than 85 percent of the print work for 19 Time Inc. publications, including Time, People, Sports Illustrated, Fortune and Golf.
This is a 35 percent increase in incremental Time print volume for Quad/Graphics Inc. over the term of the multi-year deal starting in January 2014.
Time Inc. is a division of Time Warner Inc., based in New York.
Shares of Quad/Graphics added 45 cents, or 2.4 percent, to $18.95 in afternoon trading. The stock has traded between $11.25 and $21.18 over the past year. Time Warner's stock rose 17 cents to $46.35.