New York, NY -- (SBWIRE) -- 03/08/2013 -- StockRunway.com issues special report on the Gainers and Losers – Time Warner (NYSE:TWX), Key Corp. (NYSE:KEY).
Time Warner (NYSE:TWX) is moving out of the magazine business. The media tycoon reported on Wednesday that it would divest its publishing unit, Time Inc., as an independent, publicly traded firm afterward this year. It also concluded meetings to sell many magazine titles to Meredith.
The spinoff tracks a declaration by News Corp. to split its entertainment and publishing units into two firms, a move that would be finished later this year.
After a careful assessment of alternatives, we think that a separation would better place both Time Warner (TWX) and Time Inc., Time Warner CEO Jeff Bewkes reported in a statement.
How experts treated Time Warner (TWX) after the news? Find in this report
A complete divestiture of Time Inc. gives strategic clarity for Time Warner Inc., letting them to aim towrads completely on their television networks and film and TV production units, and enhances their growth profile.
Argus lowered the rating of Time Warner (TWX) because of valuation and shares were trading above the trend line with positive change of 0.62%.
The Cleveland-located parent of KeyBank, Key Corp. (NYSE:KEY) assured that it has hit agreement with Genpact, a New York City-located global “business process and technology management” firm with over 60,000 workers in more than 70 plants in 18 countries.
The work for KeyBank would be located in India, and Representative Therese J. Myers said that the decision “would bring about the realignment of positions or job dislocations for Key workers.
How Key Corp gained investors attention on Friday? Find out here
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