Time loses â¹1900cr in a day after dropping plan to sell self
Time Inc, the publisher of Sports Illustrated and People magazines, lost $310 million (over â¹1,900 crore) in valuation as shares fell around 18% after it announced it hadn't initiated a sale process. Time said it would remain independent and pursue a strategic plan focused on digital growth. Notably, Time has been facing buyout rumours amid a decline in print media.