Time Warner May Bid for British Magazines

Time Warner Inc., one of the world’s biggest media groups, may bid for IPC, the consumer magazines group owned by Britain’s Reed Elsevier, in one of its boldest moves to date toward international expansion. The New York company said it was “very interested” in taking part in an auction for IPC, which owns 74 British consumer titles. Several European publishing companies, including Emap, have expressed interest in IPC, which publishes New Musical Express and Woman’s Own, among other British publications. It is expected to be sold for between $450 million and $600 million. Time Warner has concentrated on publishing international editions of U.S. titles such as Time and Fortune. Overseas buyers, including the privately held German media group Bertelsmann, also are expected to bid.