Henry R. Luce, talking about his first magazine's interest in personalities, once commented: "TIME didn't start this emphasis on stories about people; the Bible did." This week Time Inc. takes its co-founder's thought a large step forward by bringing out PEOPLE, a new magazine based on the old journalistic precept that names make news. Says Managing Editor Richard Stolley: "We're getting back to the people who are causing the news and who are caught up in it, or deserve to be in it. Our focus is on people, not issues."

The weekly's 72-page premiere...

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