A trio of India-based companies are in the running to acquire the Tampa, Fla.-based customer service center of Time Inc.
The New York Post reported that the company is hoping to slim down in an effort to reach profitability and companies such as Tata Consultancy, Wipro and HCL Technologies are among the bidders.
The report said that printing giant Quad Graphics has made a joint venture bid on the facility which employs roughly 700 people.
Time Inc. CEO Rich Battista is trying to shed $400 million in costs over the next 18 months and has been getting heavy guidance from McKinsey managing director Christian Schmitz, the Post reported.
Time has a goal of selling the facility for around $300 million, the report added.