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FILE - This Nov. 19, 2008 file photo shows President Barack Obama featured in a special issue of Time magazine on a New York newsstand. Time Warner Inc. on Wednesday, March 6, 2013 said that it will spin off the magazine unit behind Time, Sports Illustrated and People into a separate, publicly traded company by the end of the year. Time Warner Inc.'s decision to shed its Time Inc. magazine unit underscores the challenges facing an industry that remains wedded to glossy paper even as the use of tablet computers, e-readers and smartphones explodes. (AP Photo/Mark Lennihan, File)