Meredith to buy Time Inc in deal backed by Koch brothers
US$1.84 billion transaction, a coup for Meredith, is expected to close in the first three months of 2018
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US media company Meredith Corp said on Sunday it will buy Time Inc, the publisher of People, Sports Illustrated and Fortune magazines, in a US$1.84 billion all-cash deal backed by conservative billionaire brothers Charles and David Koch.
The deal is a coup for Meredith, which held unsuccessful talks to buy Time earlier this year and in 2013.
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