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Time Inc. to remain independent

Time Inc. has decided to go it alone, choosing a path filled with challenges that no legacy publisher has completely mastered.

On Friday, the magazine company, home to Sports Illustrated, People and Time, said its board had determined it would remain independent and not sell itself, ending a monthslong bidding process that had involved several suitors.

Instead, the company said it would pursue the strategic plan its new management team had laid out, which includes increasing its digital audience and pursuing new opportunities for revenue growth.

“This is a great company,” Rich Battista, the chief executive of Time Inc., said in an interview Friday morning. “We think there’s tremendous untapped potential, and we’re just scratching the surface.”

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