"A serious buyer is in talks with" Time Warner about buying most of its magazine properties, James Bandler, Doris Burke and Jennifer Reingold report in Fortune. The deal is in "a formative stage and may never come to fruition," they write. Meredith Corporation is the potential buyer, Amy Chozick reports in The New York Times.
The deal being discussed would allow Time Warner to hang onto three flagship magazines, Time, Fortune and Sports Illustrated, while selling the majority of its portfolio, including magazines like Real Simple, Entertainment Weekly, Cooking Light and InStyle. The titles, which amount to essentially a women’s magazine company, make a good fit for Meredith Corporation, based in Des Moines, Iowa, and the publisher of such titles as Better Homes and Gardens and Ladies’ Home Journal.(more...)