'Time' to Eat & Travel

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Time, Inc., the nation's largest magazine publisher, will acquire Food & Wine, Travel + Leisure and the rest of the stable of American Express, Inc.'s publishing arm, according to the Associated Press.

Financial terms of the deal, which is expected to close during the last quarter of 2013, were not disclosed. The deal will be finalized at around the same time Time Warner Inc. splits off  the Time, Inc. magazine division, publisher of Time, Sports Illustrated and People, among other titles, from Time Warner, which will concentrate on Warner Bros. studio and its tv holdings (See "TUOL" post 3/7/13].