Time Warner to separate Time Inc. into publicly-traded firm
Quotes

Time Warner to separate Time Inc. into publicly-traded firm

Last Updated: Thursday, March 07, 2013, 15:36
 
 Comment 0
 
Time Warner to separate Time Inc. into publicly-traded firm
New York: Time Warner has said it planned to spin off its publishing unit, Time Inc., into an independent, publicly-traded company.

"After a thorough review of options, we believe that a separation will better position both Time Warner and Time Inc.," Time Warner' s Chair and Chief Executive Officer Jeff Bewkes said in a statement Wednesday.

Bewkes said the complete spin-off will benefit both. It would provide "strategic clarity" for Time Warner by enabling it to focus entirely on its television networks, film and TV production businesses, and improving its growth profile.

"Time Inc. will also benefit from the flexibility and focus of being a stand-alone public company and be able to attract a more natural stockholder base", Bewkes noted.

Media reports citing sources familiar with the matter said Time Warner had been negotiating with Iowa-based publisher Meredith Corp. for months to divest some of Time Inc.' s magazines to Meredith.

Time Warner has conducted several spin-offs in recent years, including Time Warner Cable and AOL (America Online) in 2009.

Time Inc. publishes over 100 magazines, most notably Time, as well as Sports Illustrated, Fortune and People, among others.

IANS



First Published: Thursday, March 07, 2013, 15:36


Comments


comments powered by Disqus
India`s top ten billionaires
India`s top ten billionaires
Pradhan Mantri Jan Dhan Yojana - In Pics
Pradhan Mantri Jan Dhan Yojana - In Pics
Apple Smartwatch unveiled
Apple Smartwatch unveiled
Apple iPhone 6, iPhone 6 plus
Apple iPhone 6, iPhone 6 plus
Samsung Galaxy Tab 4 Nook
Samsung Galaxy Tab 4 Nook

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved