NEW YORK: In giving up on its magazine business, Time Warner Inc is set to hand its shareholders an operation that has shrinking sales and profits - and will be looking for a new chief executive.
While the details of the spinoff of Time Inc are still to be announced, the media conglomerate has indicated that it will be structured as a tax-free transaction for its shareholders. It has already previously spun off other businesses to investors, including AOL and Time Warner Cable.
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