Half a score of companies are looking at the 18 Time Inc. magazine titles that are on the block, and there are some surprising names among them. The biggest may be that U2 lead singer Bono is one.
The rock 'n' roller is co-founder and managing director of Elevation Partners, which is thought to be interested in acquiring the Parenting Group, which includes magazines
Parenting,
Baby
Talk and related Web sites.
Last summer, Bono and Elevation stunned the investment world when they plunked down a reported $300 million for a 40% stake in Forbes, Inc. To some,
the move seemed a bit odd. This is a guy who who has been trying to solve the problem of Third World debt, while simultaneously trying to move his personal fortune to Finland from Dublin in order to
beat the tax man. Elevation is said to be one of a trio of firms that are only interested in Time, Inc.'s Parenting Group titles.
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