Time Warner may no longer sell magazines

Kazakhstan News.Net
Sunday 27th September, 2009

A Time Warner insider has said the company will eventually sell the Time Inc magazine unit in order to acquire more holdings in its core entertainment category.

Gordon Crawford, managing director of The Capital Group, the largest shareholder in Time Warner, has said that TW is just going to be Warner Brothers, HBO and the Turner Networks.

He said the group would start to make acquisitions in their core competency.

Crawford made the comments during a September 24 discussion at University of Southern California's Annenberg School for Communication.

Time Warner has not yet commented on the statement.

Time Inc's magazines include popular titles such as People and Sports Illustrated.

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