James Robinson Shepley, who rose from reporter to president of Time Inc. and led it through a period of expansion in which the company launched Money and People magazines, died Wednesday. He was 71.

Shepley, who lived in Hartfield, Va., after retiring in 1982 from Time, died of complications from cancer at a clinic in Houston, Time announced.During his tenure as president from 1969 to 1980, the company started Money and People magazines, revived Life as a monthly after suspending it as a weekly, bought the Book-of-the-Month Club and the American Television and Communications Corp. and developed Home Box Office as the first national pay television service.