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Time Inc. has acquired the American Health magazine trademark and subscriber list from Reader’s Digest Assn. Inc. for an undisclosed sum. American Health will cease publishing in October, and the circulation will transfer to Health magazine. American Health had a total paid circulation of 934,128 for the six months ended in June, down 7% from the same period in 1998. For the first half of 1999, Health had total paid circulation of 1.11 million, up 1.9% from the same period in 1998. . . . Conoco Inc., the Houston-based energy company, has named Detroit-based Campbell-Ewald as its advertising agency. Billings weren’t disclosed.

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