Time Inc. Completes Sale of Grupo Expansión to Southern Cross Group

NEW YORK--(BUSINESS WIRE)--

Time Inc. today announced it has completed the sale of its Mexican subsidiary, Grupo Expansión (GEx), to the Latin American private equity firm, Southern Cross Group, following receipt of regulatory clearance from the Mexican Federal Economic Competition Commission.

About Time Inc.

Time Inc. TIME is one of the largest media companies in the world reaching more than 130 million consumers each month across multiple platforms. With influential brands such as TIME, PEOPLE, Sports Illustrated, InStyle, Real Simple, Wallpaper, Travel + Leisure and Food & Wine, Time Inc. is home to celebrated events and franchises including the FORTUNE 500, TIME 100, PEOPLE's Sexiest Man Alive, Sports Illustrated's Sportsman of the Year, the Food & Wine Classic in Aspen and the Essence Festival.

Source: Time Inc. IR