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View Full Version : Koch Bros / Meredith Holdings Buy Time Inc




angelatc
11-26-2017, 11:44 PM
https://www.nytimes.com/2017/11/26/business/dealbook/time-inc-meredith-corporation-koch-brothers.html


A long chapter in media history came to an unlikely close on Sunday night with a
sale agreement for Time Inc., the publisher of once-prestigious magazine titles
including Time, Sports Illustrated and People.

The Meredith Corporation — the owner of Family Circle, Better Homes and
Gardens and AllRecipes — agreed to purchase Time Inc. in an all-cash transaction
valued at nearly $3 billion. The deal was made possible, in part, by an infusion of
$650 million from the private equity arm of Charles G. and David H. Koch, the
billionaire brothers known for using their wealth and political connections to
advance conservative causes.


People was prestigious? :D Hope the NYT is next....

Raginfridus
11-27-2017, 12:27 PM
The deal was made possible, in part, by an infusion of
$650 million from the private equity arm of Charles G. and David H. Koch, the
billionaire brothers known for using their wealth and political connections to
advance conservative causes.I like how NYT was super concerned a failed magazine was picked up by conservatives, because they've got some right wing agenda, as if TIME is a game changer. "Ooo, its on now liberalism!" Shouldn't NYT be celebrating fellow left wingers lost a toxic asset? Nobody reads magazines anymore.