Time Inc. Acquires GOLF.com

Gives Time Inc. the Largest Print and Online Reach in Golf

NEW YORK, Jan. 23 /PRNewswire/ -- Time Inc. has acquired ownership of
the website GOLF.com and the company that operates it, SirenServ,
Inc., it was announced today by John Squires, co-chief operating
officer of Time Inc.

With an average of 1.3 million unique visitors monthly, GOLF.com gives
Time Inc. and its existing portfolio of GOLF MAGAZINE, GOLFONLINE,
SPORTS ILLUSTRATED, SI Golf Plus and SI.com's Golf Plus the widest
print and online reach in golf, a sport which counts more than 100
million enthusiasts worldwide.

"This acquisition not only gives Time Inc. the best URL in golf, but
also an unprecedented offering of the most powerful and trusted brands
in the sport," said Squires. "The combination of GOLF.com's popular
handicapping feature, the strong service journalism of GOLF MAGAZINE
and the news and analysis of SPORTS ILLUSTRATED and SI.com's Golf Plus
delivers the most complete coverage of the game however fans and
players demand it."

GOLF.com will be run by the company's Time4 Media division under GOLF
MAGAZINE publisher Chris Wightman. SirenServ's founder and CEO Michael
Lazerow, 31, will become general manager of GOLF.com and GOLFONLINE.

Time Inc. acquired the company from a holding company owned by a
consortium of owners including its founders, NBC Universal, Inc., The
New York Times Company and private investors. Financial terms of the
transaction were not disclosed.

GOLF.com offers extensive coverage of news and developments from the
PGA, LPGA, Champions' and Nationwide tours, including hole-by-hole
leaderboard results, as well as extensive content for recreational
players. In addition to the free content, there is a fee-based
membership program that allows eligible golfers to establish and
maintain a USGA Handicap Index and track playing performances.

GOLFONLINE, from the editors of GOLF MAGAZINE, combines the title's
strong service journalism in instruction, equipment, travel and real
estate with the interactivity of the internet. The site offers
multiple branded features including Private Lessons tailored to
golfers' games from the world's leading golfing authorities; ClubTest
to help them find the right equipment; and Golfcourse.com, the most
comprehensive online resource for golf travel, covering more than
20,000 courses worldwide. GOLF MAGAZINE has a monthly circulation of
1.4 million and a readership of 6.15 million. In May, the magazine
will present the "St. Joseph Pressure Challenge," a reality golf
competition on CBS.

SPORTS ILLUSTRATED's SI.com Golf Plus offers users fresh content on a
daily basis with web-exclusive stories, vivid photo-galleries and
in-depth analysis from SPORTS ILLUSTRATED and SI.com writers. As part
of its coverage, SI.com's Golf Plus content includes Golf Plus
Rankings, SI.com's weekly top 10 golfers; and Golf Truth and Rumors,
SI.com's golf version from the web site's Scorecard Daily section.

Time Inc. is the world's leading magazine publisher, publishing over
150 titles that are read more than 300 million times worldwide on a
monthly basis and account for nearly a quarter of the total
advertising revenues of U.S. consumer magazines.

Time Inc. is a wholly owned subsidiary of Time Warner Inc., a leading
media and entertainment company, whose businesses include interactive
services, cable systems, filmed entertainment, television networks and
publishing.

Ali Zelenko, Time Inc.

212.522.1502

ali_zelenko@timeinc.com

Samara Mormar, Time4 Media

212.779.5222

samara.mormar@time4.com SOURCE Time Inc.