Time Warner To Spin Off Magazine Unit

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A statement from the company says that unit will become a separate publicly-traded company by the end of the year, and allow Time Warner to focus on its TV side. Time Warner had been in talks to combine its magazines with another company but those negotiations broke down.

STEVE INSKEEP, HOST:

NPR's business news starts with a Time Warner split.

(SOUNDBITE OF MUSIC)

INSKEEP: You may recall when Time Inc. merged with Warner Brothers, huge, huge media merger. And now it's time for a little entropy. Last night, Time Warner announced its spinning off its magazine unit. That includes publications like, "Time Magazine," "Sports Illustrated" and "People."

A statement from the company says that unit will become a separate, publicly-traded company by the end of the year, and allow Time Warner to focus on its TV side - HBO, CNN and TNT, among other things. Time Warner had been in talks to combine its magazines with another company but those negotiations broke down.

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