Time Inc. now owns U.K. and Mexican publishers that could go to Meredith in a sale. IPC Media and Grupo Expansion both have some pieces that would slot well into the Meredith portfolio, and others that wouldn't.
Time bought Grupo Expansion in 2005 for an estimated $60 million. The Mexican company's 17 titles include Meredith-like women's monthlies and a celebrity magazine, as well as business and construction titles.
IPC Media's 60 U.K. titles range from The Field for the land-owning gentry to lifestyle publication Wallpaper, and include a lot of women's titles. Time paid $1.7 billion for IPC in 2001, but it's estimated to be worth only about half that now, an incentive for Time to consider selling IPC for the tax write-down.
Then again, Meredith could sell the international titles to help pay for the deal. IPC posted profit of $69 million on revenue of $501 million in 2011, up from a $56 million profit on sales of $511 million the previous year.
http://www.mercurynews.com/breaking-news/ci_22699685/sunset-magazine-facing-uncertain-future-amid-time-warner?IADID=Search-www.mercurynews.com-www.mercurynews.comSunset magazine facing uncertain future amid Time Warner breakup speculation
Sunset, the 114-year-old magazine that survived the San Francisco earthquake, introduced California to the backyard wooden deck and continues to be a must-read for foodies, garden lovers and armchair travelers, faces an uncertain future amid rumors of the planned breakup of the country's biggest magazine empire.
Sunset was sold to Time Warner in 1990 for $225 million and has continued to follow its popular formula of focusing on living in the West. But unconfirmed reports suggest that Sunset and its book-publishing arm could be part of a deal with Des Moines, Iowa-based Meredith Corp. that would allow Time Warner's magazine division, Time Inc., to retain magazines including Time, Fortune, Sports Illustrated and Money while shedding properties including People, InStyle and Real Simple.
That has loyal Sunset readers worrying about the future of their beloved magazine, which has not been mentioned in news stories.
