Time Warner is reportedly in talks to sell off its magazine publishing business Time Inc, which includes UK-based NME and Uncut publisher IPC.
Fortune, itself a Time Inc-owned magazine, has cited several unknown sources as saying the entertainment giant is indeed in talks with a possible bidder for some or all of its publishing division. The business title calls the talks “formative”.
The latest gossiping about a Time Inc sale follows the announcement two weeks ago of a 6% headcount cull across the publishing company, which will likely result in about 150 job losses at IPC.
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