Time Warner is looking to sell various publications under Time Inc. — including People, Real Simple, Entertainment Weekly, and In Style — to potential buyers, namely Meredith, Fortune reports.While Fortune is a Time Inc. magazine, the publication (along with Sports Illustrated and Time) would be spared from parting ways with Time Warner.
Ad Age’s Nat Ives notes, however, that People is a “huge profit centre and the crown jewel in the portfolio.”
This comes at a shaky time for Time Inc. Last month CEO Laura Lang, formerly at Digitas, announced that the company, which had a 7 per cent revenue decline in 2012, would cut about 700 jobs.
Bloomberg notes that the potential publication sales would allow Time Warner to focus on what’s profitable (TV) and ditch its biggest money suck.
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