Koch Brothers expected to fund takeover of Time Magazine

https://www.reuters.com/article/us-time-m-a-meredith/meredith-nears-deal-to-acquire-magazine-publisher-time-sources-idUSKBN1DQ0TH

Time Inc is no longer part of Time/Warner, which runs CNN – the publishing business was spun off in 2014

Time, Inc has a market capitalization of about $1.7 billion, and the group expected to make the offer is expected to offer around $2 billion. However, sometimes these deals are the first step in a bidding war.

Update while eating dinner: it is a $2.8 billion deal that is all cash at $18.50 a share. The stock spiked up last week, so the SEC is likely to launch an investigation

https://www.prnewswire.com/news-releases/meredith-corporation-to-acquire-time-inc-to-create-premier-media-and-marketing-company-serving-nearly-200-million-american-consumers-300561633.html

Time Inc has over 100 brands, some of the larger being Sports Illustrated, Time, Fortune, People, Life, Look, and Shooting Gazette.

Meredith, the suitor, publishes Magazines That are mostly female oriented:. Family Circle, Parents, Better Homes & Gardens, Martha Stewart’s Living, She, Quilting.

In 2016, Time, Inc made $2,000 on income of $3 billion – after losing more than $880 million in 2015. The story speculates that Meredith will split off their TV properties from the print publications.

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3 Responses to Koch Brothers expected to fund takeover of Time Magazine

  1. briand75 says:

    My gosh! Aren’t the Koch Brothers raving mad Republicans? What ever will become of the employees? 🙂

  2. Fred Stiening says:

    Daily Beast thinks Meredith will sell off some of the magazines to the owner of US weekly and the national enquirer

    https://www.thedailybeast.com/the-national-enquirer-sought-time-magazineand-may-still-get-it

    It’s a convoluted conspiracy about the Koch Brothers wanting to shut down anti-trump media. Among the flaws to their theory is CNN is not owned by Time, Inc and the Koch Brothers are not Trump supporters

  3. Linda S. says:

    Everything in this country is totally out of whack…

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