AOL Time Warner goes old media as it ups IPC offer

NEWS UK publishing giant IPC is a step closer to becoming the first major European acquisition of the recently formed media giant AOL Time Warner. Since the merger of US ISP AOL and entertainment behemoth Time Warner there have been ongoing discussions with London-based IPC, but talks faltered around a disagreement over pricing. Originally IPC rejected an offer of £1.1bn, which was believed to be at the very bottom end of analysts' valuations for the business. However, the Financial Timesreports this morning that discussions are set to take place again next Thursday around a new valuation that may reach as high as £1.25bn. AOL Time Warner has said it expects half of its total revenues to come for outside the US within a decade, and the acquisition of IPC, publisher of magazines such as lads' mag Loaded, is clearly seen as an important step in achieving that goal.