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Time Warner to spin off publishing unit Time Inc.

Chief Executive Office of Time Warner Inc. Jeff Bewkes speaks at Time Warner Center on January 25, 2012 in New York City. Time Warner said Wednesday it would spin off its publishing arm Time Inc. as a separate company by the end of the year, allowing the Time Warner announced Wednesday it would spin off its publishing arm Time Inc. by the end of the year, allowing the US conglomerate to focus on its television and film operations. Chief executive Jeff Bewkes said in a statement that a spinoff "provides strategic clarity" for the media-entertainment giant.