Time Warner spinning off Time Inc. magazines

[alp227]

Source: USA Today

Time Warner is getting out of the magazine business.

The media conglomerate said Wednesday that it'll spin off its publishing division, Time Inc., as an independent, publicly traded company later this year. It also ended talks to sell several magazine titles to Meredith.

The spinoff follows an announcement by News Corp. to separate its entertainment and publishing businesses into two companies, a move that will be completed later this year.

"After a thorough review of options, we believe that a separation will better position both Time Warner and Time Inc.," said Time Warner CEO Jeff Bewkes in a statement. "A complete spinoff of Time Inc. provides strategic clarity for Time Warner Inc., enabling us to focus entirely on our television networks and film and TV production businesses, and improves our growth profile."

Read more: http://www.usatoday.com/story/money/business/2013/03/06/time-warner-spinoff/1969205/

[Kolesar]

1. "We have decided to focus on giving our cable customers inferior programming and internet speeds"

"At the high prices that our monopoly enables"

[Omaha Steve]

2. Remember when AOL merged with Time?

At the time, as AOL stockholders we we're ecstatic! OOPS!

[MrsBrady]

7. I worked for Time Warner at the time.

it was a good company to work for....
aol came in and people were getting the F out of there.

sometimes by choice people left, but aol pushed out many of the 15+ year employees
of divisions all over Time Warner, including the music division I worked for at the time.

I had only been there 2 years and left. I would have eventually lost my job
as they physically closed the office where I worked.

[MicaelS]

3. Not surprising the way magazine sales keep falling.

Before the internet, I used to buy or subscribe to all types of magazines, as many as 2 dozen magazines every month. These days, I can't recall the last time I bought one. There's really no reason to, so much information is online. And the money I save not buying magazines allows me to buy more hardback books.

[KamaAina]

4. So are they just going to call it "Warner"?

[alp227]

5. The company was Warner Communications in the old days.

I think I've seen some movies from the '70s where the WB pictures logo had the tag "A Warner Communications Company". Warner Comm existed from '72 to '90 before merging with Time Inc.

[They_Live]

6. Spinoff?

Is that a new term for "selling"?