The big selloff is under way at Time Inc.
“We are looking to sell Coastal Living, Sunset and Golf,” a Time Inc. spokeswoman confirmed on Tuesday, ending weeks of speculation.
Media Ink had reported back on June 15 — in the wake of Time’ s announcement that it was chopping 300 jobs worldwide and would engage in “portfolio rationalization” — that rumors were swirling that those three titles were going to be sold.
Health, a fourth title that was rumored to be heading out the door, will instead be kept, sources said.
Execs believe the name has upside potential in the digital world — even as it has struggled in print.
Twenty-year-old Coastal Living is a homegrown title started originally by Time Inc.’s Southern Progress subsidiary. It was paired with the now-defunct Cottage Living.
The other two titles on the sales block came into the publisher’s fold as part of expensive buying sprees in a bygone era.
Sunset, now based in Oakland, Calif., but then based in a nearby Menlo Park campus, was part of a $185 million purchase of Lane Publishing back in 1990.
Sunset was founded in 1898, originally by the Southern Pacific Railroad, to help lure settlers and tourists to the West.
Golf was acquired in the 2000 acquisition of Times Mirror Magazines for $475 million. That deal also included Field & Stream, Yachting and TransWorld Snowboarding. All but Golf were eventually sold off.
Golf remained in recent years under the Sports Illustrated Group. SI is also said to be on the brink of cutting its frequency from the current 38 issues to either 28 or 30 issues next year.