July 25, 2017 Last Updated 6:04 pm

Time Inc. CEO tells Bloomberg that Coastal Living, Sunset and Golf on the auction block

President and Chief Executive Officer Rich Battista also said that the publisher was looking to sell a majority stake in Essence magazine

The CEO of Time Inc. today told Bloomberg that the company was exploring selling Coastal Living, Sunset and Golf magazines, beginning the process of divesting what it has determined to be noncore properties.

“It’s really important to focus on the key biggest growth drivers of this company that will move the needle the most,” Rich Battista said. “These are wonderful titles and wonderful brands. They’re just relatively smaller in our portfolio.”

Battista also said Time Inc. is looking to sell a majority stake in the publisher’s African-American media brand Essence.

The timing and choice of titles is odd. While many think rivals such as Meredith and Hearst would be very interested in Southern Living and the cooking titles, the three titles put on the block would likely attract less interest. Also, the three titles are spread out across the country, making them a terrible group to acquire. Coastal Living is headquartered in Birmingham, where Southern Living and the cooking titles are located, Golf is NYC based, and Sunset is a west coast title.

(Coastal Living and Sunset share the same sales team, which may have been a consideration Further, Kimberly Krubeck is VP, Brand Director for both titles. Golf is part of the Sports Illustrated Group)

Additionally, the move comes just as Rodale is looking to sell, with bids due next week, reports say.

Still, the company indicated that they were serious about sales as Time Inc. has hired management consulting firm McKinsey & Co. to manage the process.

Time Inc. stock ticked up in after-hours trading following the news, trading at $14.30 a share. The stock has been languishing as low as $12 a share after the company said this spring it would not sell the company whole. Those talks had driven up the stock to $18, a level not seen since.

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