Target: Time Inc. magazine division
Price: $2 billion to $3.5 billion
Buyer: Meredith Corp.
Seller: Time Warner Inc.
Time Warner Inc. is in talks to sell the majority of its Time Inc. magazine division to Meredith Corp., sister news service Reuters reported, citing a source familiar with the situation. The source, who asked not to be named, said the talks are in the early stages and are “very fluid.” The valuation being ascribed to Time Inc., the nation’s largest magazine publisher, with titles such as Time, Sports Illustrated and People, ranges from $2 billion to $3.5 billion.A report in Fortune magazine, one of Time Inc.’s titles, said a meeting with a potential buyer was scheduled for today. A Time Inc. representative did not immediately reply to a request for comment. A representative for Meredith declined comment. ...