TV News LIES

Saturday, Apr 21st

Last update05:20:13 AM GMT

You are here News Journalism & Media Meredith to Buy Time Inc. With Koch Brothers Backing

Meredith to Buy Time Inc. With Koch Brothers Backing

E-mail Print PDF

Meredith Corp. to buy Time Inc.Meredith Corp. agreed to acquire Time Inc. for $2.8 billion including debt, swallowing the once-mighty home of Fortune and Sports Illustrated after the internet age wreaked havoc on even the most prestigious magazine titles.

The $18.50-a-share offer is an all-cash one, Meredith said in a statement Sunday. The deal gives Meredith, publisher of Better Homes & Gardens, a larger audience at a time when publishers need to get bigger to compete with Facebook and Google in advertising.

The acquisition also gives the billionaire Koch brothers, who agreed to support Meredith’s offer with an equity injection of $650 million, a foothold in the struggling magazine industry.

More...

 


Most Recent Related Stories...


Pulitzer Prizes honor reporting on Trump-Russia, sexual misconduct scandals

Ronan Farrow among those given Pulitzers for reportingThe New York Times and The Washington Post each won a Pulitzer Prize for national reporting...

Teen with full ride to 20 colleges requests public apology from Fox affiliate in order to air interview

Teen accepted to 20 colleges called 'obnoxious' by FOX anchors A teen accepted to 20 colleges offering him full financial aid wants journalists at a Fox affiliate to...

USA TODAY NETWORK wins 3 Pulitzer Prizes for border wall, heroin reporting and editorials

Pulitzer Prizes given to USA Today The USA TODAY NETWORK won three Pulitzer prizes Monday for in-depth coverage of the border wall...

U.N. experts, Britain demand release of Reuters reporters in Myanmar

Mayanmar holds Reuters reporters Foreign Secretary Boris Johnson said on Twitter that Myanmar must show its “commitment to media freedom”...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!