Tags: koch brothers | time | meredith | merger

NYT: Koch Brothers Backing Meredith's New Bid for Time Inc.

NYT: Koch Brothers Backing Meredith's New Bid for Time Inc.
David Koch speaks in Orlando, Florida on Aug. 30, 2013. (Photo by Phelan M. Ebenhack/AP)

By    |   Thursday, 16 November 2017 07:43 AM

The billionaire Koch brothers helped to reignite talks between Time Inc. and Meredith with a pledge of $500 million to back the offer of the Better Homes and Gardens publisher, The New York Times reported.

Merger's bid to buy Time Inc. fizzled earlier this year and once earlier in 2013, but the backing of Charles and David Koch is expected to grease the skids on a deal, which both sides hope to get done soon after Thanksgiving, The Times reported.

Talks failed earlier this year when Meredith couldn't secure necessary financing, a problem solved by the Koch's infusion of the $500 million, possibly signaling the conservatives' desire to get back into the media business, The Times reported.

The Kochs entertained a bid for the Tribune Company in 2013, The Times reported.

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The billionaire Koch brothers helped to reignite talks between Time Inc. and Meredith with a pledge of $500 million to back the offer of the Better Homes and Gardens publisher, The New York Times reported.
koch brothers, time, meredith, merger
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2017-43-16
Thursday, 16 November 2017 07:43 AM
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