Time Warner Files Publishing IPO

    NEW YORK, UNITED STATES:  (FILES) This 24 November, 2003 files image shows Pedestrians and vehicles in front Time Warner headquarters in New York. Time Warner's third-quarter profit dropped 7.8 percent from a year ago to 499 million dollars, the company said 03 November, 2004 as it set aside 500 million USD for possible settlements of accounting probes at its America Online units. The world's largest media-entertainment company said its profit amounted to 11 cents a share, or 10 cents without one-time gains, compared with a Wall Street forecast of 14 cents a share. Revenue in the quarter rose 4.9 percent to 9.97 billion USD.     AFP PHOTO/FILES/Stan HONDA  (Photo credit should read STAN HONDA/AFP/Getty Images)

    Stan Honda/AFP/Getty

    Time Warner has submitted its initial public offering for the spinoff of Time Inc., the company’s publishing arm. According to documents filed with the Securities & Exchange Commission on Friday, Time Inc. generated $3.44 billion in revenue last year, 6.6 percent less than the $3.68 billion it reported the year before. Time Warner aims to create “strategic clarity” and “focused management” by separating the cable company from the publishing division.

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