Meredith, Time Inc restart deal talks with Koch brothers' support

Businessman David Koch arrives at the Metropolitan Museum of Art Costume Institute Gala 2015 celebrating the opening of

Businessman David Koch arrives at the Metropolitan Museum of Art Costume Institute Gala 2015 celebrating the opening of"China Through the

Time Inc.'s stock price jumped 24 percent to over $15.60 a share in midday trading, following a report on Wednesday night that the company is in talks to sell itself to Meredith Corp.in a deal backed by Charles and David Koch. The Kochs could help support Meredith's offer with $500 million in equity capital, and a deal could be announced shortly after Thanksgiving. In addition to Time magazine, Time Inc. publishes People, Sports Illustrated, Entertainment Weekly and more than 100 other magazines. A Time representative declined to comment and an email to Meredith outside of business hours wasn't immediately returned.

"The only logical acquirer is Meredith", Standard & Poor's Global Ratings credit analyst Minesh Patel told WWD at the time.

Shares of Time, Inc.

A big question looming now, should this acquisition succeed, would the Kochs exert any influence on a Meredith-owned Time Inc.? In 2012, the billionaires spent nearly $400 million.

Mariah Carey cancels shows due to throat infection
Fans expressed their disappointment and support on Twitter . "Let us know why you think yes or no". If you can, please share this article on Facebook so you can help The Epoch Times .

A Time-Meredith merger would likely see bundles of similar titles to boost circulation revenue, as well as more scale across its combined digital audiences. Meredith was valued at $2.42 billion.

Wichita-based Koch Industries operates oil refineries in several states.

Instead, the publisher made cost cuts by selling its non-core assets, and announced it was exploring the sale of Coastal Living, Sunset and Golf, and a majority stake in Essence.

Jack Griffin, who served as Time's chief executive officer until his ouster in 2011, was a former executive at Meredith. Meredith is based in Des Moines, Iowa.

Latest News