Time Warners board has agreed to a complete legal and structural separation from Time Inc in order to operate as an independent, publicly-traded company. After the proposed separation is completed, expected to be by the end of 2013, Time Inc will act as a multi-platform publishing and branded content company, leaving Time Warner to concentrate […]
Time Warners board has agreed to a complete legal and structural separation from Time Inc in order to operate as an independent, publicly-traded company.
After the proposed separation is completed, expected to be by the end of 2013, Time Inc will act as a multi-platform publishing and branded content company, leaving Time Warner to concentrate on TV and film production.
“After a thorough review of options, we believe that a separation will better position both Time Warner and Time Inc. A complete spin-off of Time Inc provides strategic clarity for Time Warner Inc, enabling us to focus entirely on our television networks and film and TV production businesses, and improves our growth profile, explained Time Warner chairman and chief executive officer Jeff Bewkes.
Time Inc will also benefit from the flexibility and focus of being a stand-alone public company and will now be able to attract a more natural stockholder base. As we saw with the prior spin-offs of Time Warner Cable and AOL, we expect the separation will create additional value for our stockholders.”
