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Time Inc. Asks Suitors to Submit Offers by Next Week

  • Five companies said to express interest in buying all of Time
  • Board will decide whether to proceed with sale based on offers
Updated on

Time Inc. asked potential suitors to submit acquisition offers by next week, according to people familiar with the matter.

Time’s board of directors wants details on how possible buyers value the company so it can determine whether to pursue a sale of the entire business or individual magazine titles, the people said, asking not to be identified as the details aren’t public. The company may also choose not to proceed with a sale at all, the people said.