We've seen companies worth a hundred times more than Time Inc sell faster. The magazine publisher has been in talks to sell itself since last year if you count the unsolicited offer from an Edgar Bronfman lead group back in November which was shot down by Time Inc. Today the company is still in talks with multiple parties about a sale. Believe it or not at this stage in the talks they are still described as fluid which means Time Inc has yet to lean in any direction. Unfortunately for the company, the stock price seems to be taking a little beating due to the long drawn out process. Meredith keeps holding the title as the likely suitor but Time Inc has not shown any signs that its leaning towards the Iowa based publishing company. With the stock price slipping, the original group of bidders lead by Edgar Bronfman Jr. is said to still be lingering on the outside perhaps planning to jump in with a new bid based on where the stock lands. The more the stock goes down the smaller the bids will be. We asked last week:
"If Meredith is the Best Dancer, Why is Time Inc Keeping Other Dancers on The Floor?" Well that answer is not known but some believe Time Inc is probably not serious about selling. Perhaps CEO Battista should take a look at what is happening with luxury bag maker Kate Spade. Sure its a completely different industry but
look at what dragging out a sale process can do to your company's stock. Time Inc is already seeing the early stages of this.
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Reviewed by Editor
on
Wednesday, April 05, 2017
Rating:
