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Meredith nears deal to acquire magazine publisher Time - sources [Reuters (UK)]

MEREDITH (MDP)  More Company Research Source: Reuters
Last meredith earnings: 5/10 06:30 am Check Earnings Report
US:NYSE Investor Relations: ir.meredith.com/investors/default.aspx
PDF Meredith nears deal to acquire magazine publisher Time - sources | Reuters 4 Min Read (Reuters) - U.S. media company Meredith Corp ( MDP.N ) is nearing a deal to acquire Time Inc ( TIME.N ), the U.S. publisher of Sports Illustrated and Fortune magazines, for about $2 billion (£1.5 billion), people familiar with the matter said on Sunday. The acquisition would be a coup for Meredith, which held unsuccessful talks to buy Time earlier this year and in 2013. Analysts have said that bulking up on publishing assets could give Meredith the scale required to spin off its broadcasting arm into a standalone company. Meredith, whose bid for Time is backed by an affiliate of billionaire brothers Charles and David Koch, may announce an agreement as early as this week, the sources said. A unit of Koch Industries has been backing Meredith’s bid with $600 million in financing, sources previously told Reuters. It is not clear how much influence the Koch brothers would have over the combined publis [Read more]

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