Updates to our Terms of Use

We are updating our Terms of Use. Please carefully review the updated Terms before proceeding to our website.

Friday, March 29, 2024 | Back issues
Courthouse News Service Courthouse News Service

Meredith Buying Time Inc. for an Estimated $1.8 Billion

Shares of Meredith and Time are climbing Monday morning after news that Meredith, a magazine and broadcasting company, will buy the New York publisher.

NEW YORK (AP) — Shares of Meredith and Time are climbing Monday morning after news that Meredith, a magazine and broadcasting company, will buy the New York publisher.

Meredith Corp. announced Sunday night that it is buying Time Inc. for about $1.8 billion.

Iowa-based Meredith owns TV stations that reach 12 million U.S. households. Its women- and lifestyle-focused magazines and websites include Better Homes & Gardens, Family Circle and Allrecipes. Time has Time, Sports Illustrated, People, Fortune and Entertainment Weekly.

To get the deal done, Meredith got $650 million in financial backing from the private equity arm of Koch Industries, the energy conglomerate of the billionaire Koch brothers known for their advocacy for conservative causes. In a press release, Meredith says Koch won't get a board seat or influence editorial operations.

Categories / Business, Media, National

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.

Loading...