NEW YORK CITY (dpa-AFX) - Meredith Corp. (MDP) confirmed Wednesday that it held talks with Time Warner, Inc. (TWX) regarding a potential combination of Meredith's National Media Group with Time Inc.'s Lifestyle and Style & Entertainment brands.
Earlier Wednesday, Time Warner announced plans to spin off its entire Time Inc. subsidiary into a separate publicly traded company.
Meredith Chairman and Chief Executive Officer Stephen Lacy said, 'At Time Warner's initiation, we discussed combining our National Media Group with certain Time Inc. brands to create a new publicly traded company. There are natural synergies between our two portfolios; however, we respect Time Warner's decision and certainly remain open to continuing a dialogue on how our companies might work together on future opportunities.'
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