That was quick. After an investigation following his suspensions for lifting passages from The New Yorker and incorporating them into his column, it appears Fareed Zakaria will be welcomed back to Time magazine on September 7. Via an emailed statement, a Time spokesman expressed the following in regard to Zakaria's apology for taking portions of Jill Lepore's article: 

We have completed a thorough review of each of Fareed Zakaria’s columns for Time, and we are entirely satisfied that the language in question in his recent column was an unintentional error and an isolated incident for which he has apologized. We look forward to having Fareed's thoughtful and important voice back in the magazine with his next column in the issue that comes out on September 7.

Time's statement comes less than week after his suspension announcement on Friday, August 10. Zakaria is still serving suspensions from CNN and The Washington Post. Though Time and CNN have completed their investigations (see below), there are also of course other journalists who might still be looking into Zakaria's past work.

Update: 5:21 p.m.: Following Time's lead, CNN has announced that Zakaria will be reinstated on August 26. Here's the official statement: 

CNN has completed its internal review of Fareed Zakaria’s work for CNN, including a look back at his Sunday programs, documentaries, and CNN.com blogs. The process was rigorous.  We found nothing that merited continuing the suspension.

Zakaria has apologized for a journalistic lapse. CNN and Zakaria will work together to strengthen further the procedures for his show and blog.

Fareed Zakaria’s quality journalism, insightful mind and thoughtful voice meaningfully contribute to the dialogue on global and political issues.  His public affairs program GPS will return on Sunday, August 26 at 10am ET on CNN/US and 8am ET on CNN/International.

We've reached out to Zakaria for comment on the lifted suspensions.