Time Warner (TWX) CEO Jeff Bewkes says he has no intentions to sell off Time Inc., despite reports to the contrary:
Jeff Bercovici: “Time Inc. is not for sale,” Bewkes told his interviewer, journalist Jeffrey Goldberg. “People made these rumours because they want a lot of activity.”
Of course, saying “Time Inc. is not for sale” is not the same thing as saying “Time Inc. will not be for sale very soon.” Goldberg followed up by asking if Time Warner will still be in the magazine business in five years.
“Yeah, and I think the magazine business has plenty of expansion in it,” Bewkes replied. “It is true that the magazine business, right now, during this recession, is having a bit of an advertising recession, but the thing to remember about magazines in general and certainly our magazines is the readership is solid, the readership is holding up, the readers are happy, the titles are thriving.”