Memo Pad: Closing Up House... Heading to Polo... Back to Base...

Conde Nast said Monday it will shutter the 106-year-old House & Garden as of the December issue. The Web site,, also will shut down. The offices will officially close Friday.

FOR SALE?: Just minutes after the announcement Monday that Time Warner Inc. chief operating officer Jeff Bewkes was chosen to succeed Dick Parsons as chief executive officer of the conglomerate, rumors of structural changes at the company, including a possible Time Inc. spin-off, started again. Adding fuel to the fire, a few private equity analysts chimed in that the chances of seeing Time Inc. sold off are far more likely now. Ann Moore, chairman and chief executive officer at Time Inc., doesn't expect a change — at least, that's what she said during an interview at the Future of Business Media conference last week. However, she said that if Time Inc. were on the block, "we would be highly sought after," adding that the publishing division is a "cash cow" for Time Warner, and a "big-value company." She even joked that bankers "lust after" Time Inc. So what's next for Time Warner? Well, on Wednesday, the company will report third-quarter earnings. — Amy Wicks
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