Time sold syndication rights of its Time-Life Films.

Time Inc., through its Home Box Office subsidiary, said it has licensed the 193-film library to Procter & Gamble for the syndicated TV market in the United States. Terms of the deal were not disclosed, but one bidder estimated that it will generate at least $50 million for HBO. Founded in 1969, Time-Life Films ceased production in 1981. Its library includes 49 theatrical motion pictures and 144 made-for-television movies.