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Updated: Time Inc.’s Moore Assigns Squires To Put ‘Genie Back In The Bottle’

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imageAccording to a staff memo from Time Inc. (NYSE: TWX) Chairman and CEO Ann Moore (pictured, right), EVP John Squires has a new summer job: figuring out how to make digital media pay. While Squires works on that, Moore will assume direct responsibility for the News Business unit — and some at the company don’t expect Squires to return to that role.

At its most basic, the memo almost sounds like Time Inc. hasn’t had a strategy. (It has, of course. Far more than one.) When I asked Squires about that during an e-mail interview, along with why this approach, he replied: “It