Time Warner is reported to be in talks to shed much of Time Inc, the largest magazine publisher in the United States, which has a big division, IPC Media, in Britain.

The company is said to be in early discussions with the Meredith Corporation to put most of Time Inc's magazines -- including People, InStyle and Real Simple -- into a separate, publicly traded company that would also include Meredith's titles, such as Better Homes and Gardens, Ladies' Home Journal and Family Circle. Read