Time Inc Buys Young-Women Sites xoJane, xoVain

Wall Street Journal: Time Inc. is said to have acquired two websites focused on women operated by Say Media and magazine editor Jane Pratt. Time Inc. sees the purchase of xoJane and xoVain as an opportunity to increase its reach to younger women while helping to deliver larger audiences to advertisers in the beauty and style categories. Pratt and her editorial team are expected to join Time Inc. and move to the magazine publisher’s new headquarters in lower Manhattan later this year.