Time Inc. Buys Food & Wine, Travel + Leisure

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Photo: Food & Wine

The American Express Publishing Magazine Group, which puts out five magazines including Food & Wine and Travel + Leisure, is selling the titles to Time Inc., reportedly for "less than $100 million." Other publications like Departures, which are distributed exclusively to AmEx cardholders, are also part of the deal. Time Inc. already owns several other food-related titles such as Cooking Light and Real Simple. [NYP]