Time will post $350 million in extraordinary gains.
In addition to the third-quarter pretax capital gain, Time Inc. will report a $50-million before-tax charge in the quarter. The media company said the capital gains are from the sale of its Temple-Inland subsidiary and the sale of about 20% of the common stock of its cable-TV firm, American Television & Communications Corp. The special charge covers the anticipated costs of decentralizing and relocating parts of its Chicago-based information systems group.
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