Time Inc. Is Planning to Sell a Majority Share of Essence

When Time Inc. announced plans to cut around 300 jobs last month, it was part, but not all, of an effort to cut costs at the 94-year-old organization. At the time, CEO Rich Battista told WWD’s Alexandra Steigrad that title sales could be on the table, an echo of a May Q1 earnings call in which Battista said the company planned to sell “non-core assets.”