Time magazine is American news publication, published each week by the Time Warner Corporation. Founded in 1923, Time has the largest circulation of any weekly news magazine in the world, and is perhaps known for its annual "Person of the Year" issue.
In 1923, Briton Hadden and Henry Luce founded Time magazine, the first weekly news publication in the United States. Hadden imparted a lighter tone to the news coverage, which continues to define Time's celebrity focus. When Hadden died in 1929, Henry Luce took over full publication, rising to become one of the most influential men in American publishing throughout much of the 20th century, until his death in 1967.
Time magazine is noted for, and has been both criticized and parody for, its regular use of inverted sentences. An inverted sentence is one where the predicate verb precedes the noun. It is also recognizable for its distinctive red border, which was first introduced in 1927.
In 1989, Time merged with Warner Communications, creating the multimedia giant Time Warner (briefly AOL Time Warner). In recent years, Time has been affected by declining sales and staff cutbacks. In 1997, circulation stood at 4.2 million. This figure fell to 3.4 million in 2009, characterized by a 35% drop in sales in the second half of that year. By late 2010, sales continued to drop, to slightly more that 79,000 copies each week.