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
New York
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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