Meredith, which publishes women's and home magazines, also owns television stations. Meanwhile Time, cut loose from Time Warner, stands alone. As Bloomberg reports, that doesn't sit well with investors. With its debut as a separate public company, the value of its stock didn't do too well. Here is that Bloomberg coverage.
Like Meredith, Time needs to extend into other mediums. Ideally, it does that by partnering with hipsters. There are plenty of startups out there which would welcome an establishment brand. Time's old-line contacts would be useful.
The lesson of Time is that it ran out of time. It treasured its identity as sort of magazine of record, just as The New York Times has in the newspaper space. But those making the big moves could care less about any of that. They didn't and don't need Time. Just like they didn't and don't need The New York Times.