Tammy on November 26, 2017
Hmm… This deal is partly funded by the Koch brothers. Los Angeles Times. Magazine publisher and broadcast company Meredith Corp. said Sunday afternoon it will acquire Time Inc. in a deal valued at $2.8 billion, as the print magazine industry continues to struggle. The Des Moines, Iowa-based company said in a statement that the deal had been approved by both firms’ boards of directors and is expected to close in the first quarter in 2018. Meredith said it secured $650 million from Koch Equity Development, the investment arm of Koch Industries, but the publisher said Koch Equity Development would not have a seat on the Meredith board and “will have no influence on Meredith’s editorial or managerial operations.” After speculation...