{"id":642325,"date":"2013-02-13T14:38:24","date_gmt":"2013-02-13T19:38:24","guid":{"rendered":"http:\/\/paidcontent.org\/?p=224657"},"modified":"2013-02-13T14:38:24","modified_gmt":"2013-02-13T19:38:24","slug":"updated-time-warner-reportedly-in-talks-to-sell-its-publishing-business-to-meredith","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/642325","title":{"rendered":"Updated: Time Warner reportedly in talks to sell its publishing business to Meredith"},"content":{"rendered":"

News Corp is\u00a0spinning off its own publishing division<\/a>, and now\u00a0Time Warner is reportedly looking to sell off Time Inc.<\/a>, its publishing division, Time publication\u00a0Fortune<\/em> reported Wednesday. The\u00a0New York Times<\/em><\/a> and\u00a0Wall Street Journal<\/em><\/a> both reported late Wednesday afternoon that the potential buyer is Meredith, which publishes women’s magazines like\u00a0Better Homes and Gardens<\/em> and\u00a0Ladies’ Home Journal<\/em>.
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According to the\u00a0Fortune<\/em> article, which cited unidentified sources:<\/p>\n

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In one scenario, most of the company’s publishing titles, such as\u00a0People<\/i>,\u00a0InStyle,\u00a0<\/i>and\u00a0Real Simple<\/i>, would be carved out and rolled into an independent company and sold to the undisclosed buyer. Under this plan, Time Warner\u00a0would maintain control of at least three titles –\u00a0Time<\/i>,\u00a0Sports Illustrated<\/i>, and\u00a0Fortune –\u00a0<\/i>according to the sources.\u00a0A Time Warner spokesman says, “We never comment on speculations of this nature.”<\/p>\n<\/blockquote>\n

The New York Times<\/i>, also citing unidentified sources, elaborated that “Meredith did not express interest in purchasing Time Inc.\u2019s sluggish news titles.”<\/p>\n

In 2012, Time Inc. contributed $3.4 billion in revenue to Time Warner’s total revenues of $28.7 billion — a decline from 2011, which the company attributed to lower subscription and advertising revenues. The publishing division laid off about 500 people<\/a> — roughly 6 percent of its global workforce — in January.<\/p>\n

It’s unclear who a potential buyer for Time Inc. might be. BDT Capital, the bank that Fortune<\/em> reports is involved in the deal, has ties to Warren Buffett, leading AdAge to speculate<\/a>\u00a0that Buffett could be involved in the deal.<\/del><\/p>\n

This story was updated at 5:00 p.m. ET to reflect reports from the WSJ and NYT that Time Inc.’s potential buyer is Meredith.<\/em><\/p>\n

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