Time Warner is contemplating a big shakeup of the marquis magazines under its Time Inc. publishing division, reports Fortune and the New York Times. The media conglomerate is expected to sell People, InStyle, and Real Simple magazines to Meredith Corporation, which already publishes Better Homes and Gardens and Ladies Home Journal. Time Warner would keep Time, Fortune, and Sports Illustrated as the big titles in its slimmed-down publishing unit.
Time Inc. has been struggling of late and announced last month that it would lay off 6% of its staff. But selling off the entire unit, including the iconic namesake magazine, is apparently off limits for Time Warner chief executive Jeffrey Bewkes. “Time’s name is on the door," one insider tells the New York Times. "I think Jeff feels it would be better to hang onto it and not sell it for what would be a low price." (Read more Time Warner stories.)