Sep
10
It’s Official: Time Inc. Buys AmEx’s Food & Wine, Travel & Leisure Magazines
Posted in: UncategorizedTime Inc., the largest magazine publisher in the U.S., has agreed to acquire American Express Co.’s publishing arm, which includes titles such as Food & Wine and Travel & Leisure.
Time Inc. also adds Departures, Black Ink and Executive Travel to its roster of 21 titles, the publisher said Tuesday in a statement.Word of the pending deal first emerged on Monday.
Financial terms weren’t disclosed, but a person familiar with the deal said the $100 million figure floated in a New York Post report was high. The deal is expected to close Oct. 1.
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