Is TimeWarner CEO Jeff Bewkes about to make his first major play since taking over as CEO two years ago? According to Gordon Crawford, managing director of its largest shareholder, the company is planning to get out of the struggling magazine publishing business via a sale of it’s Time Inc unit.  Crawford said TimeWarner will then turn its sites on potential entertainment properties to acquire.  A sale of Time Inc would mark the end of a long marriage that took place 20 years ago when Time Inc and Warner Communications merged. 

Could a sale of its magazine unit be the prelude to a run at GE’s NBC Universal? There has been speculation that TimeWarner and GE are in secret talks about a deal. But naturally both companies deny even knowing the other exists.  There are many big questions here. Three of which are, who would make a run at the massive Time Inc? Will TimeWarner sell it whole or in pieces?  What entertainment assets will TimeWarner make a run at? Disney’s purchase of Marvel Entertainment, is putting pressure on other media companies to make acquisitions. Something Time Warner’s Jeff Bewkes is not a fan of.