Time Warner said to be selling 18 of its magazines to Meredith Corporation

Time Warner Inc., which encompasses a huge empire of film, television and print, is considering selling most of its magazines to Meredith Corporation, the publisher of Better Homes and Gardens, according to a story published by Bloomberg.com. Some well-known Time Warner titles are not included but the majority are.

Under the terms being discussed, Meredith would acquire all but three of Time Warner’s 21 U.S. magazine titles, according to the person, who asked not to be named because the discussions are private. Time, Sports Illustrated and Fortune would remain with Time Warner, the person said. Meredith is more interested in titles such as People, Real Simple and InStyle that fit with its magazines aimed at women, according to the person.

Time Warner's publishing revenue fell 6.6 per cent last year, to $3.44 billion.