Time is planning to launch more social networks based on its weekly magazine sites following the success of Sports Illustrated's acquisition of FanNation.com earlier this year. FanNation, which lets sports fans connect around sporting events, now has an estimated 4m unique users. Time's executive VP, John Squires says the new social networks will launch by the end of this year or early next, but he did not specify which sites would add the social networking component saying: "Every site that wants to draw repeat usage from readers has to have a social engagement technology of some sort, not just message boards."

Time and People magazines are thought to be likely candidates. The company believes that in order to attract young users, social networking is essential. In addition, Time has been revamping its online content in order to reach a larger base and engage with audiences on different levels. People.com has added a variety of video channels in the past three weeks and Myrecipes.com will add daily cooking demonstrations starting Aug 8. Squires says: "We have to invest in our big reach properties, as well as [in] incredible vertical opportunities around home, health and fashion." Forward to colleagues