Tags: robert mercer | eyes | time magazine

Report: Pro-Trump Billionaire Robert Mercer Eyeing Time Mag

Report: Pro-Trump Billionaire Robert Mercer Eyeing Time Mag
(Photo by Joe Raedle/Getty Images)

Thursday, 06 July 2017 11:06 AM

Robert Mercer, the billionaire president of Renaissance Technologies and major supporter of President Donald Trump, has purchased nearly 2.5 million shares of Time Inc. stock — a sign he may have designs on the media giant and its iconic magazine Time, the New York Post reports.

The large investment represents a 2.51 percent stake in Time Inc. which was valued on March 31 at $48.1 million, the newspaper says.

Vanity Fair reports that while the stake is not large enough for a takeover, it is "certainly sufficient for Mercer to begin throwing around his weight if he wants to be more of an activist investor — or if he wants to have a voice in who does eventually acquire" Time Inc.

Mercer and his daughter Rebekah are major Trump supporters and, according to Vanity Fair, were responsible for "pouring millions into the presidential race and recommending former Breitbart News Chairman Stephen Bannon and Kellyanne Conway for top posts on the campaign."

Also interested in Time is David Pecker, the CEO of American Media which owns the National Enquirer, and is also a Trump supporter.

Trump was recently tied to Time in a bizarre way when it was reported by The Washington Post that he hanged framed copies of fake Time magazines in his golf clubhouses showing his face and extolling his huge success with the NBC reality show "The Apprentice."

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Robert Mercer, the billionaire president of Renaissance Technologies and major supporter of President Donald Trump, has purchased nearly 2.5 million shares of Time Inc. stock - a sign he may have designs on the media giant and its iconic magazine Time...
robert mercer, eyes, time magazine
229
2017-06-06
Thursday, 06 July 2017 11:06 AM
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