Report: Meredith eyes buying Time Warner magazines

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Meredith Corp. is reportedly talking with Time Warner about buying several magazines from it, including People, InStyle and Real Simple.

The report in Fortune magazine cites unnamed people familiar with the matter and comes two weeks after the magazine unit, Time Inc., said it's cutting 6 percent of its global staff of 8,000, or about 500 people.

Companies sometimes lay off workers before selling assets to make them more profitable and attractive to buyers.

Meredith Corp. is the publisher of magazines such as Better Homes and Gardens and Fitness.

Fortune is also owned by Time Inc. and says it might not be part of a sale.

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