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Time Warner Files Plan to Spin Off Magazine Publisher Next Year

Time Warner Inc. filed to spin off its Time Inc. division next year, turning the publisher of People, Sports Illustrated and Time into the world’s largest publicly traded magazine company.

Time Inc., publisher of more than 20 titles, will trade as a new company in 2014, according to a regulatory filing yesterday. The filing is preliminary and didn’t specify dates for the spin-off beyond next year.