Time Inc in talks to buy American Express magazines: report

Mon Sep 9, 2013 5:26pm EDT

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(Reuters) - Time Inc, the magazine publisher that is preparing to spin out from its parent company Time Warner Inc, is in talks to acquire American Express' titles such as Food & Wine, according to a report in the New York Times.

Time Inc publishes People and Sports Illustrated and has worked with American Express in a management agreement on back office functions like circulation for 20 years.

A spokeswoman for Time Inc declined to comment.

American Express magazines also include Travel & Leisure and the luxury title for its card holders, Departures.

(Reporting by Jennifer Saba in New York; Editing by Carol Bishopric)

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