Time Warner is now seeking to sell off all of its most iconic magazine titles, the New York Times reported Wednesday.
The media conglomerate was already in talks with fellow publisher Meredith about selling most of the titles in its Time Inc. stable, but Time Warner was said to be keeping a hold on four major brands: Time, Sports Illustrated, Fortune and Money.
Now, the Times' Amy Chozick and Christine Haughney wrote, Time Warner wants to dispense with those too:
Time Warner still wants to complete the deal, but if talks fall through, the media giant could spin off Time Inc. on its own, without a partner, or keep its 21 magazines, the people said.
Time Warner had considered keeping the four news and sports magazines, which executives originally believed have synergies with its CNN cable channel. But the thinking on the magazines, which like the rest of the industry have faced industry-wide downturns in revenue, has changed, these people said.
If the deal was completed, it would mark a very dramatic shift in the media landscape. After all, it is Time Inc. that put the "Time" in "Time Warner." The company has already begun a painful round of layoffs.
BEFORE YOU GO
How to vote
Vote-by-mail ballot request deadline: Varies by state
For the Nov 3 election: States are making it easier for citizens to vote absentee by mail this year due to the coronavirus. Each state has its own rules for mail-in absentee voting. Visit your state election office website to find out if you can vote by mail.Get more information
In-person early voting dates: Varies by state
Sometimes circumstances make it hard or impossible for you to vote on Election Day. But your state may let you vote during a designated early voting period. You don't need an excuse to vote early. Visit your state election office website to find out whether they offer early voting.My Election Office
General Election: Nov 3, 2020
Polling hours on Election Day: Varies by state/localityMy Polling Place