At Time Inc, a jittery reckoning on day after its sale to Meredith
A sense of loss is afflicting a firm that had once defined modern magazines although it is not yet clear what would happen under its new minders
New York
WHEN employees of Time Inc trundled into a corporate auditorium on Monday, the atmosphere was funereal.
The night before, many of them had been stunned by the news that the venerable publisher of Time, Fortune, Sports Illustrated and People had agreed to sell itself to the Meredith Corp in a US$2.8 billion deal made possible by an equity infusion from Koch Industries, the sprawling conglomerate run by Charles and David Koch.
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