The rumbling is that Meredith is the front-runner in the battle to take over Time Inc. and its stable of magazines including Time, People, Sports Illustrated and InStyle.
Bids could come in as early as Friday, although one source close to the situation said that it is “fluid” and bidders could get a little more time if needed.
Time Inc. is not expected to do a bust-up sale — although that would not preclude Meredith or anyone else from spinning things off — but only after a buyer makes a bid for the full company. A winning bid is expected to be around $2 billion — with assumption of $1.2 billion in debt.
Meredith owns Better Homes and Gardens, Martha Stewart Living, Shape and TV stations. Meredith and Time declined to comment.