TimeWarner may sell mags division to invest in entertainment
From its humble beginnings, Time Inc was always defined as a magazine publisher that, at some stage, diversified into film (Warner), TV (CNN), entertainment (HBO) and then, in one of the most disastrous mergers in history, the internet (AOL). Today, TimeWarner is one of the world’s biggest media conglomerates and, if we are to believe Gordon Crawford, MD of the Capital Group and owner of 7% of TimeWarner stock, will soon shed the company that started it all, the magazine division. The proceeds would help buy more entertainment companies, one possible target being MGM.
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