Time is an American weekly news magazine and news website published in New York City. It was founded in 1923 and originally run by Henry Luce. A European edition (Time Europe, formerly known as Time Atlantic) is published in London and also covers the Middle East, Africa, and, since 2003, Latin America. An Asian edition (Time Asia) is based in Hong Kong. The South Pacific edition, which covers Australia, New Zealand, and the Pacific Islands, is based in Sydney.In December 2008, Time discontinued publishing a Canadian advertiser edition. Time has the world’s largest circulation for a weekly news magazine. The print edition has a readership of 26 million, 20 million of whom are based in the United States. In mid-2012, its circulation was over three million,[ which had lowered to two million by late 2017. Richard Stengel was the managing editor from May 2006 to October 2013, when he joined the U.S. State Department. Nancy Gibbs was the managing editor from September 2013 until September 2017. She was succeeded by Edward Felsenthal, who had been Time’s digital editor.