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Time Inc. To Sell To Meredith Corp. In Koch-Backed Deal

NPR
Published November 27, 2017 at 1:52 PM EST
Time magazine copies are dispalyed on a table in Washgington on Nov. 27, 2017. Time Inc. is selling for $2.8 billion to media conglomerate Meredith Corporation, which is backed by the billionaire Koch brothers, who are known for supporting conservative causes. Time, which also publishes its eponymous magazine, Fortune and Sports Illustrated, began looking for a buyer late last year before giving up several months later, while welcoming options. (Eric Baradat/AFP/Getty Images)
Time magazine copies are dispalyed on a table in Washgington on Nov. 27, 2017. Time Inc. is selling for $2.8 billion to media conglomerate Meredith Corporation, which is backed by the billionaire Koch brothers, who are known for supporting conservative causes. Time, which also publishes its eponymous magazine, Fortune and Sports Illustrated, began looking for a buyer late last year before giving up several months later, while welcoming options. (Eric Baradat/AFP/Getty Images)

Time Inc., the owner of Sports Illustrated, People, Fortune and Time magazine, agreed to sell itself Sunday to the lifestyle magazine publisher Meredith Corp. The $2.8 billion deal was made possible in part by a multi-million dollar cash infusion from the private equity arm of the conservative brothers Charles and David Koch.

Here & Now‘s Jeremy Hobson speaks with NPR media correspondent  David Folkenflik ( @davidfolkenflik) about the sale.

Copyright 2020 NPR. To see more, visit https://www.npr.org.

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