Time Warner Will Sell Magazine Business, Says Gordon Crawford

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Time Warner has split off its cable company, is spinning off AOL, and will inevitably sell its magazine business, Time Warner shareholder Gordon Crawford said last week.

“They are going to sell their print division, they are going to spin off AOL and they’re just going to be Warner Brothers, HBO and the Turner Networks,” Crawford said, according to Reuters, via MarketWatch.

MarketWatch’s Moming Zhou: Crawford, whose company owns than 8% of Time Warner shares, made the comments during a discussion at University of Southern California’s Annenberg School for Communication.

The media company in July reported its second-quarter operation income fell to $1.18 billion, down 2% from the same period a year ago. Operation income in its publishing segment tumbled to $102 million from $218 million, down 53%.

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