Time Warner in Talks to Part Ways with Time Inc.

Media giant Time Warner has begun discussions to separate itself from Time Inc., its $3.4 billion (in annual revenue) publishing division, according to three people familiar with the matter. Meredith, the Des Moines-based publisher of Family Circle and the Ladies' Home Journal, is in talks with the company, according to two people familiar with the matter. A meeting of the buyer's representatives occurred today to discuss a potential deal, which is still in a formative stage and may never come to fruition.

The exact mechanics of the complex transaction were not available at the time of publication.