Time Inc has announced the sale of lifestyle brand Sunset to Los Angeles based private equity firm Regent L.P.
Sunset is known to cover travel, food, wine, home and garden stories across its monthly print publication, digital and social platforms. It has also proclaimed the involvement of literary figures like Jack London, Dashiell Hammett and Sinclair Lewis and also launched an environmental movement along with Sierra Club founder John Muir.
Michael Reinstein, chairman, Regent L.P said: “ For almost 120 years Sunset has been the definitive, pioneering voice of the promise, hope, values and innovative spirit of the West. We are excited to partner with Sunset’s talented editor-in-chief Irene Edwards and her accomplished team to ensure that Sunset continues to thrive for generations to come.”
Rich Battista, president and chief executive officer, Time Inc said: “We’re pleased to have found such a passionate buyer in Michael Reinstein and Regent. For 27 years, we’ve expanded Sunset’s influence and reach as the defining lifestyle brand of the modern American West serving an audience of 6.5 million across platforms. Now, under the new ownership team led by Michael Reinstein, Sunset will have the opportunity to reach new heights.
“We thank the Sunset team for their talented work, tireless commitment and passion."
Time Inc UK has revealed that it is already plotting assets sales as it takes a blow on print revenue. Meanwhile, Meredith Corp is pursuing an ambitious $1.84bn takeover of Time Inc in hard cash, bringing a roster of titles such as People, Sports Illustrated and Fortune magazine under its banner.