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Time Inc., which became the modern Time Warner through many mergers over the decades has decided to further its cost cutting amid the looming recession. In order to save as much as $100 million by paring back expenses and slashing several hundred jobs, Time Warner will be survived with three Gulfstream jets estimated to be around $95 million. Although the estimated value would depend on the condition of the aircraft, it seems like the world’s largest magazine publisher is coming to an end.

Via: cityfile/PrivateJetDaily

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