First round bids are due for Time Inc.'s Time 4 media and Parenting groups on Wednesday, and while no clear frontrunners have emerged, some interesting players are looking to get back in the magazine game. FishbowlNY hears former G+J USA president Russell Denson is looking at the magazine group for a possible acquisition, as is American Media Inc., Florida-based publisher of Star and National Inquirer, which would purchase the titles in order to resell them. [Folio: also reported the buy-and-flip scenario last week.]

Denson, who lost his job as G+J president after the company's women's magazines were acquired by Meredith for $350 million last year, is also rumored to be in the running for American Media Inc. non-celebrity titles on the block, including Muscle & Fitness, Flex and Mira!. "He's looking to get back in the game," says an industry source.

In terms of price, the Time Inc. titles may fetch wildly varying bids, an industry source told FishbowlNY, before coming down in the second round, when the bidders are able to do "more than kick the tires."

But it doesn't take much beyond tire-kicking to realize Time 4's struggles:

TIME 4 MEDIA REVENUE (MILLIONS) | %CHNG JAN-SEPT 2006