- Obama takes aim at ‘corporate deserters’
- Dick’s Sporting Goods lays off 478 PGA golf pros
- Senators: Cease-fire must allow Israel to defend against rockets, tunnels
- Sierra Leone doctor fighting Ebola catches disease
- Iraq welcomes Russian fighter jets, helicopter gunships into ISIL fight
- John McCain laments: Obama’s ‘self-pity … is really kind of sad’
- GOP offer to fix VA gives $10 billion in emergency funds
- Paul Ryan offers to repair U.S. economic safety net with a single grant stream
- Kim Jong-un builds bond with Putin: $250M Russia-backed addition to key port opens
- Pope Francis meets Meriam Ibrahim, a Sudanese woman sentenced to death
Report: Meredith eyes buying Time Warner magazines
Question of the Day
LOS ANGELES (AP) - Meredith Corp., the publisher of magazines such as Better Homes and Gardens and Fitness, is talking with Time Warner about buying several magazines from it, including People, InStyle and Real Simple, according to a Fortune magazine report.
Wednesday’s report cited unnamed people familiar with the matter and comes two weeks after the magazine unit, Time Inc., said it’s cutting 6 percent of its global staff of 8,000, or about 500 people.
Companies sometimes lay off workers before selling assets to make them more profitable and attractive to buyers.
Fortune is also owned by Time Inc. and says it might not be part of a sale.
Fortune said the talks are early and may fall apart. It said one of the advisers involved was Chicago merchant bank BDT Capital Partners, which is run by former Goldman Sachs executive Byron Trott.
“There’s tremendous resilience in the national magazine publishing business, but advertising demand is secularly not so strong. It’s down a bit,” Bewkes said. “The question of whether we ought to put that into a different frame is one we’ve been asking.”
He added that Time Warner officials “at this point have not decided to do something like that. But we will keep investigating that.”
TWT Video Picks
By Michael Widlanski
Leveling the battlefield to aid terrorists enables evil to fight on
- 'We're coming for you, Barack Obama': Top U.S. official discloses threat from ISIL terrorists
- NAPOLITANO: What if our democracy is a fraud?
- Hamas rejects Kerry's call for cease-fire; Fears grow others could join fight against Israel
- Evidence shows Russia firing artillery into Ukraine: Pentagon
- Obama orders Pentagon advisers to Ukraine
- Obama's empty tough-talk: Gun prosecutions plummet on his watch
- SOWELL:Bordering on immigration madness
- CARSON: Costco and the perils of mixing politics and business
- Algerian plane diverted due to storms, second aircraft: 116 missing
- Presidents of Honduras, Guatemala blame U.S. for border children crisis
Obama's biggest White House 'fails'
Celebrities turned politicians
Athletes turned actors
20 gadgets that changed the world
Fighting in Iraq