A “serious buyer” is talking with Time Warner to buy several magazines from it, including People, InStyle and Real Simple, according to a Fortune magazine report.
Wednesday’s report cited unnamed people familiar with the matter and comes two weeks after the magazine unit, Time Inc., said it’s cutting 6 percent of its global staff of 8,000, or about 500 people.
Companies sometimes lay off workers before selling assets to make them more profitable and attractive to buyers.
Fortune is also owned by Time Inc. and says it might not be part of a sale.
The magazine said the talks are early and may fall apart. A Time Warner spokesman declined comment.