At the end of 2003, Time Life was acquired by Ripplewood Holdings L.L.C. and ZelnickMedia Corporation to become part of Direct Holdings Worldwide L.L.C. Direct Holdings Worldwide operates as a leader in the sale of music and video products under the Time Life brand.

Founded in 1961 as the book division of Time Inc., Time Life took its name from Time Inc.'s cornerstone magazines, Time and Life, but remained independent of both. By 1966, Time Life combined its book offerings with music collections (two to five records) and packaged them as a sturdy box set. Throughout the '70s and '80s, the selection of books, music, and then video grew, diversifying into all genres. When record labels stopped producing vinyl albums in 1990, Time Life switched to CD only.

Today, Time Life is one of the world's pre-eminent creators and direct marketers of unique book, music, video/DVD, and multimedia products. The Time Life name is one of the most recognized and trusted brands in existence today. Its products are sold throughout North America, Europe, Australia, and Asia through television, print, retail, the Internet, telemarketing, and direct sales.