Time Warner to spin off Time Inc, talks with Meredith end

We had speculated about what a combined Time Inc and Meredith would mean for the Hispanic magazine market. But it was not to be. Time Warner just announced it will spin off its Time Inc. magazine unit into a separate, publicly traded company, a move that will allow the media conglomerate to focus entirely on its cable television and film businesses, the New York Times reports.

In a statement late Wednesday, Jeffrey L. Bewkes , chairman and chief executive of Time Warner, said a complete spinoff would provide clarity for the company as it concentrated on its high-growth businesses, primarily in cable television.

Hispanic MagazineThe announcement came hours after Time Warner and Meredith  ended negotiations on a proposal that would have joined in a separate company many Time Inc. titles with magazines published by Meredith. ”We respect Time Warner’s decision and certainly remain open to continuing a dialogue on how our companies might work together,” said Stephen M. Lacy, Meredith’s chairman and chief executive.

Laura Lang, the chief executive of Time Inc. will depart Time Inc. once the spinoff of the magazine division is complete.

 


Editorial Staff

Portada Staff

MORE FROM PORTADA

AB InBev Awards U.S. Media Account to Dentsu Aegis Network

AB InBev Awards U.S. Media Account to Dentsu Aegis Network

Brewing giant AB InBev has named Dentsu Aegis Network’s Vizeum as its new agency for the U.S. and Canada.


BRAND MARKETING RESEARCH: Apple, Google World’s Top Brands

BRAND MARKETING RESEARCH: Apple, Google World’s Top Brands

A summary of the most exciting recent research in brand marketing in the U.S., U.S.-Hispanic and Latin American markets. If you're trying to keep up, consider this your one-stop shop.


Marketers Use Social Media to Boost Sponsorships: ANA STUDY

Marketers Use Social Media to Boost Sponsorships: ANA STUDY

Social media — particularly Facebook, Twitter, and Instagram — has emerged as a key component in supporting sponsorship activations among a great majority of marketers, according to a new study by the ANA (Association of National Advertisers).