Time Inc. Sells Time4 Media, Parenting Groups
Swedish publisher Bonnier Group is poised to acquire 18 magazines from Time Inc. for more than $200 million, according to a report published Thursday in the New York Post.
The Post’s report added that the price tag for the magazines was expected to fall well shy of the $300 million Time Inc. sought when the titles were first put on the block last fall.
The sale includes Field & Stream, Outdoor Life, TransWorld Snowboarding, Yachting, Salt Water Sportsman, Parenting, Baby Talk and 11 other titles, according to the Post.
This move comes on the heels of nearly 300 Time Inc. staffers being laid off last Friday.