Speaking in New York Wednesday morning, Time Inc. CEO Ann Moore dismissed talks of a spin-off or sale; complained that the division was undervalued; once again offered up SI as a poster child (maybe we should say swimsuit model) for digital success; and suggested everyone needs to “stay calm.” For context, her comments, reported by AdAge, were made at a Magazine Publishers Association of America event.

Moore on SI and Time Inc. digital: She said revenue was “pretty much flat” for a decade at SI but is now growing. Digital contributed 5 percent in 2005, 13 percent inn 2006 and is projected to be 18 percent this year. No concrete details about People, other than it is is growing wildly draws more unique visitors than any other entertainment site except Time Warner sib AOL’S TMZ JV. Moore: “Trust me, there is a profitable business here.” (No mention in the story of whether it’s profitable enough to make up for displaced income.)