What Would The Koch Brothers Do With Time, People?

Koch brothers back bid to buy Time Inc report

Greg Nash

Meredith Corp is in talks to purchase Time Inc, with the backing of billionaires Charles and David Koch, the New York Times reported on November 15.

Both magazine publishers were reportedly exploring a possible deal earlier this year before things fell through, only to be reignited by the Koch brothers' interest, according to the report.

Time, which owns such publications as People and Sports Illustrated, has a stock market value of $1.3 billion. Meredith's stock likewise went up as a result, to $59.70 a share-a 10 percent increase.

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

The companies and Koch brothers were not immediately available for comment outside regular business hours. The common-held wisdom was that the most likely suitor was Meredith Corp., the deeper pocketed Des Moines-based publisher of a stable of titles including Family Circle and Better Homes and Gardens.

Shares of Time, Inc.

The billionaire Koch brothers are said to be investing $500 million into the deal in support of Meredith's offer. New York-based Time also publishes Time, Fortune and InStyle.

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