Time Warner Forms New Publishing Unit: In...

Time Warner Forms New Publishing Unit: In the first major consolidation since the $14-billion merger of Time Inc. and Warner Communications Inc., Time Warner Inc. said it was forming a unit comprising Little, Brown & Co. and Warner Books. Annual revenue for the combined entity, to be called Time Warner Trade Publishing and operated by Time Inc. Book Co., should exceed $160 million, the company said. Both houses are to continue publishing with separate imprints. Little Brown is a 152-year-old, hard-cover and professional publishing house, which was controlled by Time, and Warner Books was Warner Communications.