Time Inc. selling 18 print titles(including Field&Stream and Outdoor Life)

[Bufflehead]

Anne Moore, CEO of Time Inc., announced today the company's plans to sell 18 print titles from its Time4Media and Parenting groups. The announcement, which was made in a memo to her employees, will affect a total of 560 workers, including 440 in the Time4Media division and 120 in the Parenting Group. The sale will be brokered by J.P. Morgan.



The sale will eliminate the media company's Time4Media division, which is home to Golf Magazine, Ski Magazine, Field & Stream, Outdoor Life, the Transworld publications, as well as Popular Science and This Old House. Time Warner purchased the division, formerly the Times Mirror Magazines, from Tribune in 2000 for $475 million. Time4Media President Thomas Beusse, who has heavily focused the division on digital media since taking the reins in January. Moore said Beusse will continue to helm the division until a sale is finalized.



The Time4 Media businesses for sale include:

Popular Science

Marine Group (Yachting, MotorBoating and SaltWater Sportsman)

Time4 Outdoors (Field & Stream, Outdoor Life)

TransWorld Media (TW Skateboarding, TW Snowboarding, TW Surf, TW Motocross, Ride BMX, Quad)

Mountain Sports Media (Ski, Skiing, Warren Miller Entertainment)