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Time Inc. initially declined to proceed with that sale in April 2017, leading to a stock drop. They then discussed selling some smaller titles separately that July, and then eventually agreed to a deal to sell everything to Meredith (for about $1.84 billion) last November. Since then, Meredith has reportedly been looking to sell off SI (as well as a bundle of Time, Money and Fortune), but there’s still plenty of uncertainty about if and when that will happen. However, the market for SI in particular appears reasonably strong, with over 20 bidders (including six in serious talks with Meredith) as of a Vanity Fair report from Joe Pompeo in May. And the Time Inc. moves can be seen in a couple of different ways for the Gizmodo sale. On the one hand, the interest in the properties Meredith is selling off (over 80 bidders in all, as per Pompeo’s piece) suggests there are still plenty of people looking to buy already-established media brands, and to buy some relatively-focused brands. And those bidders aren’t all going to come away with the Meredith titles; losing bidders might explore other media alternatives, and the Gizmodo properties might fit there.
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