Time Inc. has asked potential buyers to submit offers by next week, according to Bloomberg.

Time executives will review the offers before deciding how much of and which parts of the company to sell (Time Inc. owns brands from Sports Illustrated, to People to Fortune). Five companies are reportedly interested, including Meredith Corp., from which Time rejected a bid last year.

Why it matters: Time's selectively comes as the publisher's digital revenues are soaring, thanks to native and programmatic digital advertising growth, which has likely piqued investor interest. As of close on Tuesday Time Inc.'s shares were valued at $17.55 USD, up nearly 40% percent since November. TIme's ability to close the gap between print and digital revenues makes it an attractive prospect for Meredith, which has been doubling down on efforts to expand its digital revenue stream.

Go deeper

Ina Fried, author of Login
3 mins ago - Technology

Amazon wants to flood America with Alexa cameras and microphones

Photo: Amazon

In a Thursday event unveiling a slew of new home devices ahead of the holidays, Amazon made clearer than ever its determination to flood America with cameras, microphones and the voice of Alexa, its AI assistant.

The big picture: Updating popular products and expanding its range to car alarms and in-home drones, Amazon extended its lead in smart home devices and moved into new areas including cloud gaming and car security. The new offerings will also fuel criticism that the tech giant is helping equip a society built around surveillance.

Ben Geman, author of Generate
56 mins ago - Energy & Environment

Oil's turbulent long-term future

Illustration: Aïda Amer/Axios

The oil sector is facing risks from all sides.

Why it matters: Risk in the industry is nothing new. But these are especially turbulent and uncertain times. The industry's market clout has waned, the future of demand is kind of a mystery, and future U.S. policy is too, just to name three.

Meadows on Wray's voter fraud dismissal: "He has a hard time finding emails in his own FBI"

White House chief of staff Mark Meadows dismissed FBI Director Chris Wray's testimony that the U.S. has never historically seen evidence of widespread voter fraud, including by mail, during an appearance on "CBS This Morning" on Friday.

Why it matters: Meadows' statement highlights the Trump administration's strategy to sow doubt in November's election results by challenging the legitimacy of mail-in ballots, which are expected to skew heavily in Democrats' favor.

Get Axios AM in your inbox

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Subscription failed
Thank you for subscribing!