Squires, who is chief operating officer, moves from his current role running the Time Inc's news division, which includes Time, Sports Illustrated and Fortune, as well as CNNMoney.com.
Time Inc chairman and CEO Ann Moore will take over his duties and add them to the publisher's entertainment magazines, which include People and Entertainment Weekly.
According to a report in the Wall Street Journal, Squires new strategic role will focus on "whether and how to charge consumers for digital content" -- be it on the web, on a mobile device such as Apple's iPhone or an e-readers such as the Amazon Kindle.
Squires has long been involved in Time Inc's efforts to expand its digital business and has led online development for Time Inc titles.
He was also the Time Inc executive who closed Business 2.0 magazine, the technology-driven bible, and folded it into Fortune and Fortune.com.
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