Friday, October 10, 2008

Time not looking for anyone to buy the NME

Anne Moore, the head of Time Inc's magazines business - sorry, I mean, content business - has spoken to The Times about her long-term strategy for the company. It doesn't, it seems, involve flogging off UK consumers magazine business IPC:

Home to NME and Country Life, IPC had faced question marks about its creativity in recent years – and there was talk that Time might be prepared to sell.

“Where did you hear that from? I know, wishful thinking from bankers hoping for a mandate,” she says, praising Sylvia Auton, the boss of IPC. “We are very pleased – three out of her last four launches have been hits – and that’s why we’ve given her more responsibility,” which, it turns out, is running Southern lifestyle titles out of Birmingham, Alabama.

It's not as if anyone would be willingly flogging assets right now anyway - where would you find a buyer for the company when all the stockbrokers are queuing up to have their photos taken with their heads in their hands?