Time is an American weekly news magazine and news website published in New York City. It was founded in 1923 and for many years it was run by its influential co-founder 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.