Time Warner to spin off publishing unit Time Inc.
Time Warner said Wednesday it would spin off its publishing arm Time Inc. as a separate company by the end of the year, allowing the US conglomerate to focus on its television and film operations.
Chief executive Jeff Bewkes said in a statement that a spinoff "provides strategic clarity for Time Warner Inc., enabling us to focus entirely on our television networks and film and TV production businesses."
(c) 2013 AFP
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Time Warner to spin off publishing unit Time Inc. (2013, March 6)
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