Time Warner Files Publishing IPO

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.