There were rumors and suggestions last week that Time Warner, Inc should sell its flagship magazine, Time.

Richard Parsons, the CEO, said that's not going to happen. Before an annual shareholders meeting, he said the company may consider doing a stock buy-back, and is "considering...some other options." But as for selling the famous magazine and the publishing business of the same name, Parsons said, "I am not an advocate of selling Time Inc."

Time Warner Inc.'s chief executive said yesterday the board is considering another stock buyback and other options, but quashed talk of spinning off its flagship Time Inc. publishing business.

Shareholders of the world's largest media company also approved two proposals that give them more say over company matters, according to preliminary results at the annual shareholders' meeting in Los Angeles yesterday.

(Continue reading this story on Toronto Star)

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