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Shares of Time jumped Wednesday, on track to reverse five straight days of losses after a Bloomberg report cited sources that said several companies may be interested in buying the media company.

In midday trading, shares were up over 7.5 percent above $18.50 a share.

Time has asked potential buyers to submit offers by next week as the company's board of directors considers whether to sell the entire business or individual magazine titles, Bloomberg reported late Tuesday, citing sources familiar with the matter.

Five companies have expressed interest, one person told the news service. Two potential bidders include Better Homes & Gardens parent Meredith, and an investor group led by Edgar Bronfman, Jr., the report said, citing sources. At least one of the other three other bidders is a publicly traded company, the person told Bloomberg.

Bronfman is a managing partner at Accretive, an investment firm. Back in November, he made a bid for Time at $18 a share that the media company rejected. Shares of Time have soared more than 30 percent since then.

Time, the publisher of People, Time magazine and Sports Illustrated, has struggled recently, reporting lower-than-expected fourth-quarter earnings on Feb. 16.

Time, Meredith and Accretive did not immediately respond to CNBC requests for comment.

Time shares 6-month performance

Apple's spaceship-looking campus is scheduled to open to employees in April, the company said today, announcing its official name: Apple Park.One interesting note from Apple's post: The building is "the site of the world's largest naturally ventilated building, projected to require no heating or air conditioning for nine months of the year."That is one of the campus' several energy conservation-related features; it will be powered by 100 percent renewable energy and a large on-site solar installation.Apple's spaceship-looking campus is scheduled to open to employees in April, the company said today, announcing its official name: Apple Park.One interesting note from Apple's post: The building is "the site of the world's largest naturally ventilated building, projected to require no heating or air conditioning for nine months of the year."That is one of the campus' several energy conservation-related features; it will be powered by 100 percent renewable energy and a large on-site solar installation.

Apple's spaceship-looking campus is scheduled to open to employees in April, the company said today, announcing its official name: Apple Park.One interesting note from Apple's post: The building is "the site of the world's largest naturally ventilated building, projected to require no heating or air conditioning for nine months of the year."That is one of the campus' several energy conservation-related features; it will be powered by 100 percent renewable energy and a large on-site solar installation.Apple's spaceship-looking campus is scheduled to open to employees in April, the company said today, announcing its official name: Apple Park.One interesting note from Apple's post: The building is "the site of the world's largest naturally ventilated building, projected to require no heating or air conditioning for nine months of the year."That is one of the campus' several energy conservation-related features; it will be powered by 100 percent renewable energy and a large on-site solar installation.

More from Recode:
What would Steve (Jobs) do? He sure wouldn't eat humble pie as the Trump era dawns.
Sony Pictures would make an interesting buy for a tech giant
Apple's Eddy Cue says technology companies have a responsibility to combat fake news.
If you're wondering, the top result for "world's largest naturally ventilated building" is currently for Russia Tower, a skyscraper project that was planned for Moscow and reportedly canceled — and designed by Foster + Partners, the same architecture firm that designed Apple Park.Some 12,000 employees will eventually work in Apple Park. It also includes a 1,000-seat spaceship-looking auditorium, which has been named the Steve Jobs Theater after Apple's late founder.

By Dan Frommer, Recode.net.

CNBC's parent NBCUniversal is an investor in Recode's parent Vox, and the companies have a content-sharing arrangement.



adjhajdsfhjkasdf Law enforcement searching Caterpillar offices 2 Hours Ago | 01:05

Caterpillar shares fell Thursday after the company confirmed that law enforcement conducted a search of its facilities, including its headquarters in Peoria, Illinois.

The stock dropped more than 4 percent in afternoon trade and was the biggest decliner in the Dow Jones industrial average, contributing more than half the losses in the index.

The company told CNBC that law enforcement was executing a search warrant. Caterpillar said it is cooperating with the search. It was not immediately clear what the investigators were seeking.

The U.S. Attorney's Office for the Central District of Illinois confirmed the activity to CNBC, saying law enforcement went to facilities in Peoria, East Peoria and Morton.

Agents could be seen wearing IRS jackets in video obtained by NBC affiliate WEEK.

Source: WEEK-TV

Source: WEEK-TV

The company has previously disclosed that it received a grand jury subpoena on Jan. 8, 2015 related to the movement of cash among its U.S. and overseas subsidiaries. It was not immediately clear that Thursday's search was related to that subpoena.

Last month, Caterpillar said in its annual filing with the Securities and Exchange Commission that while it is "unable to predict the outcome or reasonably estimate any potential loss" related to outstanding investigations, it doesn't expect these issues to have a "material adverse effect on the Company's consolidated results of operations, financial position or liquidity."

This is breaking news. Please check back for updates.

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First sanctions to fall will be those on Russian financials: VTB Bank President

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Theresa May, U.K. prime minister, speaks during a plenary session at the WEF annual meeting
Jason Alden | Bloomberg | Getty Images
Theresa May, U.K. prime minister, speaks during a plenary session at the WEF annual meeting


Rescue teams are seen at the crash site of Turkish cargo jet near Kyrgyzstan's Manas airport .
Vladimir Pirogov
Rescue teams are seen at the crash site of Turkish cargo jet near Kyrgyzstan's Manas airport .


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