Time Inc. Sells Mexican Publisher
Time Inc. has sold Grupo Expansión (GEx) — Mexico’s second-largest publisher — to Southern Cross Group, a private equity firm. Time Inc. had acquired GEx in 2005.
Joe Ripp, Time Inc’s CEO, said the company sold GEx because it didn’t fit in its plans. “Time Inc.’s prime focus today is on growing core assets in the U.S. and U.K.,” said Ripp, in a statement. “Therefore, we believe GEx will have better opportunity to maximize its value under the ownership of Southern Cross.”
GEx’s
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