And now, the latest on the Time Inc. sale
February 6, 2017
After a flurry of activity surrounding Time Inc. during December and January, when suitor after suitor stepped forward to express interest in the publisher of Time and Sports Illustrated, it’s been a rather quiet few weeks.
But rest assured, Time Inc. is still very much up for sale, and just who, if anyone, gets the company could be settled over the next few weeks.
It plans to take meetings over the coming week with its suitors, allowing them to look over financial information and get answers to lingering questions about their bids, according to The Wall Street Journal.
That could clear the way for Time Inc. to choose a winning bidder and perhaps move on to the acquisition stage.
But the company will not necessarily sell – it’s also comfortable with the option of continuing the status quo, despite concerns about dwindling print revenues and subscriptions, which prompted the prospect of acquisition.
The remaining bidders
Time Inc. rejected an offer from a group led by Edgar Bronfman Jr. late last year that started the whole bidding process.
Meredith, with which it carried on an flirtation a few years ago, is most likely to win the bidding. It’s unclear if it would gobble up all the magazines, however, or cherry pick the ones best suited to its female-focused brand.
Other rumored suitors include Hearst and American Media. Some have speculated a digital company will make a bid as well, but so far none have emerged.
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