Time is an American news magazine. It was founded in 1923 by Briton Hadden and Henry Luce, who were originally going to call the publication Facts. Now owned by Time Warner, it is published in Europe, Asia and the South Pacific. Its circulation stood at 3.4 million in 2009.
Newsweek (originally News-Week) is a New York-based rival publication, launched in 1933 by Thomas J.C. Martyn. The first edition featured a cover montage of photos from that week’s news, including a Nazi rally in Germany.
The magazine has engendered its fair share of controversy in the last decade, including reporting on alleged ‘Qur’an desecrations’ at Guantanamo Bay in 2005 and a supposedly ‘sexist’ cover shot of Sarah Palin in November 2009.