Time chairman to resign

Time Inc.'s executive chairman is resigning weeks after the company decided not to sell itself.

Joe Ripp was CEO until last fall and was expected to stay with the company in the executive chairman role until September 2018.

The news came alongside its quarterly earnings report. Time posted a first-quarter net loss of $28 million, compared with a $10 million loss a year earlier.

Read more from Dow Jones Newswires.