Report: Bidder eyes buying Time Warner magazines

Feb 13, 2013

(AP)—Fortune magazine is reporting that a "serious buyer" is talking with Time Warner to buy several magazines from it, including People, InStyle and Real Simple.

Wednesday's report cites unnamed people familiar with the matter and comes two weeks after the magazine unit, Time Inc., said it's cutting 6 percent of its global staff of 8,000, or about 500 people.

Companies sometimes lay off workers before selling assets to make them more profitable and attractive to buyers.

Fortune is also owned by Time Inc. and says it might not be part of a sale.

A Time Warner spokesman declined comment.

. CEO Jeff Bewkes told last week that the company was considering separating Time magazines from the rest of the company but that no decision had been made.

Explore further: Smartphone domination pretty close to complete

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Time Inc to slash hundreds of jobs

Jan 30, 2013

Time Inc. said Wednesday it was cutting several hundred jobs as the US publishing giant streamlines to adapt to a "multi-platform" media landscape.

Time Warner picks Digitas CEO to run magazines

Dec 01, 2011

Time Warner on Wednesday named Laura Lang, chief executive of digital marketing agency Digitas, to run its extensive stable of magazines, which includes Time, People and Sports Illustrated.

Major layoffs loom at Time Inc.: reports

Oct 30, 2009

Time Inc., publisher of Time, Fortune, Sports Illustrated, People and other magazines, plans to lay off some 540 employees starting next week, or six percent of its workforce, The New York Post reported Friday.

Recommended for you

Intel in talks with Altera on tie-up

18 hours ago

US tech giant Intel is in talks with rival Altera on a tie-up to broaden the chipmaker's product line amid growth in Internet-connected devices, the Wall Street Journal reported Friday.

Apple chief Cook to give his wealth away: Fortune

22 hours ago

Apple chief Tim Cook is joining Mark Zuckerberg, Bill Gates and other technology titans who have vowed to donate their wealth to charities, according to a report in Fortune magazine.

BlackBerry tops 4Q profit forecasts

Mar 27, 2015

BlackBerry posted a surprise profit in the fourth quarter, but saw a sharp drop-off in revenue as the once-iconic smartphone company said it reached the halfway mark of its turnaround effort.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.