Third Time’s A Charm – Meredith To Aquire Time

Meredith, Backed by Koch Brothers, Acquires Time Inc. for $2.8 Billion

The Meredith Corporation has closed a $2.8 billion deal to buy Time Inc, with the companies finalizing and announcing the acquisition on Sunday night. Meredith’s bid was bolstered by $650 million from the private-equity firm of conservative megadonors Charles and David Koch, but Meredith said on Sunday that the brothers’ firm will not get a board seat and will “have no influence on Meredith’s editorial or managerial operations.”