Meredith Corp (MDP.N)
NEW YORK U.S. media group Meredith Corp’s planned purchase of Time Inc is the latest in a run of mergers that have boosted media lending to the highest point in more than a decade as the sector regroups to fight online content providers.
NEW YORK, Nov 29 US media group Meredith Corp’s planned purchase of Time Inc is the latest in a run of mergers that have boosted media lending to the highest point in more than a decade as the sector regroups to fight online content providers.
NEW YORK (Reuters Breakingviews) - Despite some media pundits’ suspicions to the contrary, David and Charles Koch may be cooking up nothing more than a decent investment in publisher Meredith. Through Koch Industries’ private-equity arm, the Republican-leaning activist U.S. billionaires are sinking $650 million into Meredith to help it buy Time Inc for $2.8 billion including debt. The Kochs get preferred shares, but no votes or board seats. Like Carlos Slim’s loan to the New York Times, the pote
U.S. media company Meredith Corp said on Sunday it will buy Time Inc, the publisher of People, Sports Illustrated and Fortune magazines, in a $1.84 billion all-cash deal backed by conservative billionaire brothers Charles and David Koch. | Video
Nov 27 The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Monday:
* Meredith Corp plans to cut hundreds of jobs after its acquisition Of Time Inc - FT, citing sources
Nov 27 The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy.
* Including debt, deal values Time at $2.8 billion (Adds that Time Inc owns People Magazine)
* DEAL WITH MEREDITH SUBJECT TO CUSTOMARY CLOSING CONDITIONS AND REGULATORY APPROVALS
* ORATION TO ACQUIRE TIME INC. TO CREATE PREMIER MEDIA AND MARKETING COMPANY SERVING NEARLY 200 MILLION AMERICAN CONSUMERS