Time Inc. and Apple Inc. (NASDAQ:AAPL) have made an agreement to make Time’s iPad edition free for print subscribers. This deal also applies towards Sports Illustrated and Fortune magazine subscribers. Time’s People magazine already has a similar deal in place with Apple. In several cases, print publishers make the cost of their iPad edition separate. Time Warner Inc. recently fired Time Inc. head Jack Griffin. As of right now, the Time Inc. team is being headed by three executives. [WSJ]

Facebook co-founder and CEO Mark Zuckerberg has been named the Person of the Year 2010 by TIME Magazine. “For connecting more than half a billion people and mapping the social relations among them (something that has never been done before); for creating a new system of exchanging information that has become both indispensable and sometimes a little scary; and finally, for changing how we all live our lives in ways that are innovative and even optimistic, Mark Elliot Zuckerberg is TIME’s 2010 Person of the Year,” wrote Lev Grossman of TIME.

The Wall Street Journal reported today that Time Magazine has signed up Unilever, Toyota, and Fidelity on a marketing campaign that involves the iPad.  Time will be charging those advertisers about $200,000 each for a single ad spot on Time’s iPad edition according to the WSJ source.

Wired is also rumored to be combining ad campaigns around print and the iPad.  Advertisers that buy about eight pages of ads in an issue of Wired will have the option to ad videos and other features in the iPad form of the magazine.  Now that we know how print publications with a large following plan to monetize through the iPad, it will be interesting to see how new media publication companies do it. [WSJ]