Time Inc Hires Bank of America And Morgan Stanley in Preparation For Possible Sale

Time Inc's focus is increasingly turning to a possible sale following news last week that the company turned down an almost $2 billion offer from a private investment group lead by billionaire Edgar Bronfman Jr. Since that news broke, speculation about other possible suitors have been tossed into the mix. Earlier this week NY Post reported that Hearst Magazines held internal talks about Time Inc titles they would be interested in acquiring if the company were to be sold and busted up. But with that recent news, Wall Street media analysts still believe Meredith Corp which tried and failed to merge with the company back in 2013 before its spinoff would be the best suitor for the almost 100 year old company.  Earlier this week at the UBS’ Global Media & Communications Conference in New York on Tuesday, Meredith Corp CEO Steve Lacy commented on the speculation saying:

There have not been any meaningful conversations between Meredith and Time Inc. since we ceased those discussions back in March of 2013.

There may not be any discussions at the moment between Meredith and Time Inc, but Time Inc seems serious about having some discussions with potential buyers because the media company has hired two banking heavyweights, Bank of America and Morgan Stanley to help it manage any offers that may pop up again, including from Meredith and maybe even the Bronfman lead investment consortium and yes even Hearst Magazines. Time inc could either be sold off as a whole or piece by piece depending on which is more feasible. Though nothing is on the table right now (allegedly) there is a whiff of inevitability in the air. Time Inc may not make it to 100.

Time Inc Hires Bank of America And Morgan Stanley in Preparation For Possible Sale Reviewed by Editor on Thursday, December 08, 2016 Rating: 5
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