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Wednesday, February 13, 2013

Time Warner seeking buyers for its magazines - report, (NYSE: TWX)

Time Warner Inc is seeking to sell its publishing unit Time Inc and has met with at least one serious buyer, Fortune magazine said, citing unnamed sources. A meeting with a potential buyer is scheduled for today, the report said, adding that talks are still in formative stages.A Time Warner spokesman said the company does not comment on speculation.Time Inc is the publisher of magazine titles like People, Sports Illustrated, Fortune and its namesake newsweekly.In one possible outcome, the buyer would get most of Time Inc's titles while Time Warner would retain three magazines: Time, Sports Illustrated and Fortune, the report said.

Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX traded higher by 0.46% or $0.24/share to $52.74. In the past year, the shares have traded as low as $33.62 and as high as $52.85. On average, 6028540 shares of TWX exchange hands on a given day and today's volume is recorded at 5933264.