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Time Inc. results fall, but less than expected

Time Inc. swung to a loss in its latest quarter as the publisher wrote down the value of its London office building and faced declines in advertising and circulation revenue.

The company on Thursday announced the sale of its Blue Fin building for 415 million pounds ($638.3 million) and said the fair value the property was significantly above its carrying value.

Time, which spun off from Time Warner Inc. last year, has been battling continuing declines in print ad revenue and has been attempting to grow its digital reach through acquisitions.

Last month, Time bought two websites geared toward women, xoJane.com and xoVain.com, as well as Hello Giggles Inc., targeted toward younger females. Those acquisitions followed the purchases of several...


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