From Sports Illustrated to People to its namesake magazine, Time Inc., was always an innovator. But now when the troubled magazine industry is facing its greatest challenge, the company Henry Luce founded is struggling to find its way in a digital world.
Several potential bidders may be preparing offers to counter the effort by Dell founder Michael Dell to take the company private, from shareholder Southeastern Asset Management to rival computer maker Hewlett-Packard to famed investor Carl Icahn.
Time Warner said Wednesday that it will spin off the magazine unit behind Time, Sports Illustrated and People into a separate, publicly traded company by the end of the year.
Time Warner is in talks to sell the majority of its Time Inc magazine division to Meredith Corp, according to a source familiar with the situation. The valuation being ascribed to Time Inc, with titles such as Time, Sports Illustrated and People, ranges from $2 billion to $3.5 billion.
Google is considering a plan to expand its Android newsstand -- and heat rivalry with Apple's iTunes -- by charging publishers a lower price to sell news to Android users than the 30% fee that Apple typically charges to sell apps on iTunes. Will that be enough to attract more news?
The world's biggest magazine company is getting a new boss. Ann Moore, who has served as chairman and chief executive of Time Inc. since 2002, is relinquishing the CEO title to Jack Griffin, previously of Meredith Corp.
