TVNewser FishbowlDC AgencySpy TVSpy LostRemote PRNewser SocialTimes AllFacebook 10,000 Words GalleyCat UnBeige MediaJobsDaily

Time Inc. Sells Mexican Publisher

Time__Inc_-logo-2ED06AA15C-seeklogo.com_Time Inc. has sold Grupo Expansión (GEx) — Mexico’s second-largest publisher — to Southern Cross Group, a private equity firm. Time Inc. had acquired GEx in 2005.

Joe Ripp, Time Inc’s CEO, said the company sold GEx because it didn’t fit in its plans. “Time Inc.’s prime focus today is on growing core assets in the U.S. and U.K.,” said Ripp, in a statement. “Therefore, we believe GEx will have better opportunity to maximize its value under the ownership of Southern Cross.”

GEx’s brans include Expansión, Elle, Obras, Manufactura, IDC, Quién, Elle Decoration, InStyle, Accént, Aire, Gran Plan, Quo, Chilango, Life & Style, Metros Cúbicos, Travel + Leisure, Revolution, CNNExpansión, Mediotiempo, ADNPolítico and CNNMéxico.

Financial terms of the deal weren’t disclosed.

Mediabistro Course

Travel Writing

Travel WritingStarting September 23, learn how to turn your travel stories into published essays and articles! Taught by a former Vanity Fair staff writer, James Sturz will teach you how to report, interview, and find sources, discover story ideas and pitch them successfully, and understand what travel editors look for in a story. Register now!