NEW YORK, Sept. 15 /PRNewswire/ -- MAGHOUND Enterprises, Inc., a
wholly-owned subsidiary of Time Inc., today announced the beta launch of
MAGHOUND, a new online-based magazine membership service that will improve
the way consumers purchase their magazines by incorporating flexibility,
choice, and control.

    The introduction of MAGHOUND will modernize the traditional circulation
model by relieving the constraints of standard subscription contracts and
empowering the consumer. On the MAGHOUND website (http://www.maghound.com),
members can select up to 15 magazines from a broad range of titles
represented by dozens of major publishers for one set monthly fee, with the
ability to switch titles at any time.

    "While magazine circulation is strong, there is a need for new and
innovative ways to reach consumers, particularly online," said John
Squires, Executive Vice President of Time Inc., MAGHOUND's parent company.
"MAGHOUND is a novel approach that begins with the consumer's needs,
provides them with unlimited choices and delivers highly engaged readers to
advertisers. It's an idea that will be a winner for consumers, publishers
and readers."

    "We've witnessed consumer-friendly purchasing models develop in several
other media categories," said Dave Ventresca, President of MAGHOUND
Enterprises, Inc. "MAGHOUND is our attempt to bring magazines more on par
with music, DVD's, cable TV and satellite radio."

    At the time of the beta launch, the MAGHOUND service will feature over
240 titles, with plans to increase the roster of available magazines on an
ongoing basis. In addition to all major Time Inc. brands, the list will
include Men's Health, ELLE, Martha Stewart Living, Maxim, Ladies Home
Journal, Parents, Better Homes & Gardens, Woman's Day, Best Life, Popular
Science, Prevention, Runner's World, Women's Health, VIBE, Car and Driver,
PC Magazine, Gardening and Bicycling.

    "It's vital for circulators even more so than ever in this economy to
test innovative new ideas. MAGHOUND has potential to be an important
program for the industry and that is why Bonnier is in," said Peter Winn,
Director of Planning and Development, Consumer Marketing for Bonnier
Corporation.

    The membership pricing is tiered -- three titles for $4.95 a month,
five titles for $7.95, seven titles for $9.95, and $1 per title for eight
titles or more. Unlike traditional subscription programs, MAGHOUND is a
monthly membership service that offers greater flexibility without
long-term, annual contracts. All monthly fees will be conveniently billed
to a credit/debit card, eliminating the need for invoices and renewal
notices.

    Memberships can be entirely managed online, as well as by email and
phone, from changing magazine title selections to updating personal
information and even placing magazine delivery on hold for a temporary
period. Additionally, MAGHOUND users will be able to view the titles that
are available for a specific month and the expected date of arrival. Since
some magazines do not publish an issue every month, MAGHOUND offers its
members the optional benefit of selecting "Substitute" titles, delivered
whenever their primary titles are not available.

    From an ad sales and circulation tracking standpoint, all titles sold
on MAGHOUND will be classified as single-copy sales. From a revenue-sharing
perspective, MAGHOUND will pay the publishers a fixed fee for every copy of
each title that is sold. To ensure that members do not receive direct
promotional offers from multiple publishers at the same time, MAGHOUND will
protect members' privacy and prohibit marketing from publishers.

    Enhancements to the Beta version of the site are expected in early
2009. "Looking towards the future, we're already planning and building
enhanced features, such as digital content, member feedback tools and
expanded delivery options. Of course, we'll always be working to expand our
roster of titles to offer the best selection possible," said Ventresca.

    About MAGHOUND

    MAGHOUND Enterprises, Inc., is an online-based magazine membership
service that features hundreds of magazine titles from many leading
publishers. MAGHOUND, the magazine lover's best friend, has modernized the
traditional magazine circulation model by incorporating greater
flexibility, choice and control. Launched in September 2008, MAGHOUND is a
wholly-owned subsidiary of Time Inc., the publishers of TIME, PEOPLE and
SPORTS ILLUSTRATED and is headquartered in New York City. Additional
information about MAGHOUND can be found online at http://www.maghound.com.