PE Angle In Meredith Deal For Time Titles?

Time Warner Inc. is in talks to sell the majority of its Time Inc. magazine division to Meredith Corp., sister news service Reuters reported, citing a source familiar with the situation. The source, who asked not to be named, said the talks are in the early stages and are “very fluid.” The valuation being ascribed to Time Inc., the nation’s largest magazine publisher, with titles such as Time, Sports Illustrated and People, ranges from $2 billion to $3.5 billion.