NEW YORK--(BUSINESS WIRE)--Time Inc. (NYSE:TIME) today announced the acquisition of three companies that will form the foundation of Sports Illustrated Play, a new Time Inc. business devoted to youth and amateur sports. Sports Illustrated Play is teaming up with leaders in online sports management to introduce a powerful suite of tools for player registration, scheduling, communication and scorekeeping. Two of the acquired companies—League Athletics, based in Tucson, AZ, and SportsSignup, based