Time and other recently acquired titles being put up for sale by Meredith Corporation

Time magazine, Fortune, Sports Illustrated, Fortune and Money were always an odd fit for Meredith Corporation when it took over the Time stable of titles from Time Warner Inc. And, as a result, they are up for sale, according to a story in Bloomberg,  Meredith is keeping People magazine, the most profitable. Other titles acquired include Real Simple and InStyle. 

Meredith is planning to cut 1,000 jobs over the next 10 months as it consolidates what they are keeping with their existing flagships such as Better Homes & Gardens and Family Circle  and other titles (mostly entertainment, food, lifestyle, home, parenting,  beauty and fashion) 

“That was the plan all along I think,” said Craig Huber, an analyst who follows Meredith at Huber Research Partners. “Meredith has never liked the weekly magazine business because the editorial content gets stale very quickly.”