Time Inc. said on Thursday that it’s selling its “Sunset” lifestyle brand to Los Angeles-based private equity firm Regent L.P. “Sunset,” a monthly print publication, covers travel, food, wine and home and garden as a lifestyle magazine of the American West. The sale of “Sunset” comes after news magazine publisher Meredith Corp. has proposed a $2.8 billion acquisition of Time Inc. The “Time” and “Sports Illustrated” publisher has been struggling to make up for its declining print business. Time has said it plans to target more than $400 million in cost savings as it sells off assets and focuses on its core brands. Shares of Time are up nearly 4% in the year to date, while the S&P 500 index is up more than 18% and the Dow Jones Industrial Average is up more than 21%.
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