• All Things Digital, Wednesday, June 3, 2009 9:30 AM

Time Warner has yet to dispose of AOL, but there's lots of chatter about CEO Jeff Bewkes' next move. Some observers think he plans to sell off the company's namesake Time Inc. publishing unit next year.

Pali Capital analyst Rich Greenfield says Bewkes and the Time Warner board "have no emotional attachment to the assets within Time Warner. We would not be surprised to see Time Warner seek a separation or sale of its magazine publishing division." With the inherent difficulties of shifting Time Inc.'s magazine business to an online subscription model, "we believe it may make sense to further simplify Time Warner down to only cable networks and filmed entertainment in 2010," says Greenfield.

The big question, of course, is how much would the world's biggest publishing company sell for? Last quarter Time Inc. lost $32 million on revenues of $800 million.

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