Time Inc, he largest magazine publishing company in America, is planning to put most of its Australian publications on the block.
Up for sale are such titles as Why Weekly (the Australian version of People magazine), In-Style, Practical Parenting and Bride-to-Be. Between them the magazines have a combined revenue of around $40 million.
One reason for the sell-off, it’s said, is the large debt run up by the give-away version of Life, which for a couple of years has been included inside about 100 American newspapers. This week it folded.
Keeping Life alive is said to have cost Time Inc between $50 and $75 million. Not up for sale at the present are the Australian edition of Time or the Aussie version of Britain’s Women’s Weekly.