Time Inc. Advances Stock Buyback Plan

The company's stock hit an all-time low yesterday.

Time Inc.’s board has voted to accelerate its original $500 million stock buyback program. According to the New York Post, the company plans to buy back $300 million while cutting $200 million in debt.

The publisher decided to move ahead on its plan because its stock hit an all-time low of $16 a share yesterday.

A stock buyback could mean Time Inc. is ready to spend the $685 million it got from selling the London-based Blue Fin Building.