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
Add BT as a preferred sourceNew 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.
TRENDING NOW
Koh Brothers Eco Engineering faces up to S$57.6 million in potential liabilities from legal disputes
How BYD disrupted Singapore’s car market – and why the strategy is turning on itself
Car-rental firm Charlotte Vehicle allegedly owes about S$140,000 to 34 customers
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
