Complex sentence: The year after the album's release, "Time" magazine, noting that "all three of his albums have been gushed over by critics", dubbed Stewart "the current king of honkytonk".
Split into simpler sentences: The year after the album's release, "Time" magazine said that "all three of his albums have been gushed over by critics". A year after its release, Stewart would be dubbed by "Time" "the current king of honkytonk".