Time Inc. has sold its Time Life direct-marketing unit, a leading seller of music and video product through television ads and infomercials, to an investment group fronted by former BMG chairman/CEO S

Time Inc. has sold its Time Life direct-marketing unit, a leading seller of music and video product through television ads and infomercials, to an investment group fronted by former BMG chairman/CEO Strauss Zelnick. Financial terms of the deal were not disclosed.

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