Reuters is reporting, originally via BusinessWeek, that Time Warner Inc will eventually sell the Time Inc magazine unit and could buy holdings in its core entertainment category – according to Gordon Crawford, managing director of its largest shareholder.
“Time Warner just spun off their cable division, they are going to sell their print division, they are going to spin off AOL and they’re just going to be Warner Brothers, HBO and the Turner Networks,” said Crawford, managing director of The Capital Group during a roundtable discussion at the USC Annenberg School for Communications.
- Reuters reports that Time Warner has declined to comment.
Meanwhile, Peter Kafka of All Things Digital suggests that Crawford might not be right:
“[H]ere’s the thing: The body language from Time Warner executives in recent months makes me think they intend to keep at least part of their magazine business in the family. More than body language, actually: ‘Time Warner without People? I can’t imagine it,’ one well-placed Time Warner official told me recently.”