TIME magazine was created in America in 1923 by Henry Luce and Briton Hadden. It was the first weekly news magazine in the US and its founders originally intended to call it Facts. However, because Luce and Briton wanted to keep their magazine brief (something that busy people could read in about an hour), they decided to change its name to Time and use the slogan “Take Time – It’s Brief.”
Largely thanks to its brief format, Time almost immediately surpassed its closest competitor, The Literary Digest. In fact, the magazine was so popular that in “History of Time Magazine” David Wallechinsky and Irving Wallace wrote “if Time liked them, they marched or strode; if not, they shuffled, straggled, shambled, plodded, lumbered, barged, swaggered, wobbled, or slouched.”
These days, Time magazine is still the most popular weekly news magazine in the US, and has been since its creation, with the only exception of Newsweek, which briefly overtook Time during the Vietnam War.