Crawford says Time Warner will sell magazine unit (Dinosaur Media DeathWatch™)

Yahoo Finance ^ | September 26, 2009 | Jessica Wohl

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Time Warner Inc (NYSE:TWX - News) will eventually sell the Time Inc magazine unit and could buy holdings in its core entertainment category, Gordon Crawford, managing director of its largest shareholder, said during a presentation this week.

"Time Warner just spun off their cable division, they are going to sell their print division, they are going to spin off AOL and they're just going to be Warner Brothers, HBO and the Turner Networks," said Crawford, managing director of The Capital Group.

"Now, they will make acquisitions ... but they're probably going to buy just stuff in their wheel house of those businesses. They're not going to, I don't think, go very far afield from their core competency."

Crawford made the comments during a September 24 discussion at University of Southern California's Annenberg School for Communication entitled "The Art of the Long View: The Media Company of 2020."

Time Warner declined to comment on Saturday.

Time Inc's magazines include popular titles such as People and Sports Illustrated. In the second quarter, revenue at Time Inc publishing, the largest U.S. magazine publisher, fell 22 percent to $915 million due to a 26 percent decline in advertising revenue.

While Crawford did not name specific acquisition targets, he did say there would be a "winnowing process" during which weaker companies in the sector would be gobbled up.

Capital Research Global Investors held 98.6 million shares of Time Warner, or 8.32 percent of the company's total shares outstanding, as of June 30.

The presentation, which was available online, was discussed in a BusinessWeek blog posted on Friday.

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TIME

"TIME, oh, TIME
Where did you go
TIME, oh, good, good TIME
Where did you go"

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ping

[Radix]

Glen Beck's revenge!

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TIME (Clock Of The Heart)

[musicman]

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TIME has Come Today

[angkor]

Time Warner AOL = stupidest business deal of the 20th century.

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There used to be a really jam up youtube clip of them performing this song on Sullivan. Can’t find it any more, though.

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Found it!

http://www.youtube.com/watch?v=qICvMmh14F4&feature=related

[MinuteGal]

You must remember this
A pinko rag we will not miss
As Time goes bye-bye

Leni

[VRWC For Truth]

Time Warner AOL = stupidest business deal of the 20th century

Liberals should stick to NPR.

[musicman]

Thanks!!!!!!

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As TIME Goes By

[ConservativeMind]

He says two very funny things in that article. First, he states Time is going to stay ‘very close to their core competency.’ I know many business teachers who would argue the no one at Time knows their core competency-just look at what they've either bought or done over the years. What exactly do they think they are good at doing?

Next, the article states that Time will acquire weaker companies than themselves. Two questions on this one. First, exactly what companies weaker then Time are possibly worth buying? Second, what value could Time possibly add
to the company it didn't already have? I mean, look at the AOL merger or the CNN purchase. Heck, they even owned Atari at one time, I believe.

Time has always been a rudderless ship with an inability to create value for its shareholders. That will never change, from what we've seen.

It's just crazy.

[pepsionice]

They don’t really put a pricetag on Time...which would be curious what it might take to relieve Time Warner of a loser. If they said $25 million would do the job...I would suggest that Rush take some of his pocket change and just buy them....then turn it into a professional gentleman’s golf magazine.

[grey_whiskers]

I like Rush buying them : they could turn it into a conservative (that is, "True but accurate") magazine and watch subscriptions and revenue SOAR.

Time-Life's series of science books in the 60s and 70s was pretty good.

Cheers!

[flaglady47]

“You must remember this
A pinko rag we will not miss
As Time goes bye-bye”

LOL! Very clever.

[MNDude]

How much does it cost? Maybe every Freeper could through in $5 to buy it?

Is this THE trashy Time magazine you always see in the waiting rooms of medical clinics?

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Yes, it is. And here's their latest P&L. Ain't pretty. Another year or two and they'll have to PAY someone to take it off their hands.