The Tribune Company (which owns this magazine) will likely complete the spinoff of its publishing business this summer—just as that another old-media titan, Time Warner, does the same.

Here’s what the new companies will look like.

  Tribune Publishing Time Inc.
The stable Eight metro dailies (Tribune, Los Angeles Times, etc.), Chicago magazine, and other publications 21 national magazines, including once-revered Time, Fortune, Sports Illustrated, and People
Revenue The publishing side’s $1.8 billion revenue in 2013 will drop 1 to 5 percent in 2014, predicts media analyst Ken Doctor. The $3.4 billion in revenue in 2013 will fall 6 to 8 percent in 2014, Doctor says.
The digs Headquarters will remain at Chicago’s gothic Tribune Tower, which Tribune Publishing will lease from its former owner. Time Inc. honchos plan to move out of Midtown to the less pricey Battery Park area.
Recent bloodletting Announced last November: 700 job cuts (6 percent of work force) by the end of 2014 500 layoffs (6 percent of work force), which began in February
Small world moment New CEO Jack Griffin held the same title at Time Inc. for six months in 2011 before being ousted New board member Dennis FitzSimons was the guy in charge of Tribune Co. when it was disastrously handed to Sam Zell in 2007
Biggest indignity A parting gift of a whopping $325 million of debt (Thanks, Peter Liguori!) Having to leave the iconic Time-Life Building, the company’s home since 1959
Potential suitors News Corp honcho Rupert Murdoch; zillionaire investor Warren Buffett Rival publisher Meredith may reopen merger talks, the New York Post reports.
Expect to see An L.A. mogul pick off the Times. “A lot of people would like to buy that paper,” says Rick Edmonds, a media business analyst at The Poynter Institute. Entertainment Weekly shutter its print issue. “It’s pretty thin these days,” Edmonds observes.