Dec 102016

Storied magazine publisher Time Inc. (TIME) is reportedly looking for help as it garners takeover interest.

The New York company has hired Morgan Stanley and Bank of America as financial advisers to help the company field offers, sources told The Wall Street Journal on Thursday.

Time Inc.’s new move toward a sale comes after reports last week that Time Inc. had rejected an $18 per-share bid from billionaire investors Edgar Bronfman Jr. and Ynon Kreiz, as well as Len Blavatnik’s Access Industries, according to the New York Post.

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