Time Inc., the publisher of Time, Sports Illustrated, Fortune, People, Entertainment Weekly, etc., will be bought for $1.84 billion by Meredith Corporation ($2.8 billion including debt):
U.S. media company Meredith Corp said on Sunday it will buy Time Inc, the publisher of People, Sports Illustrated and Fortune magazines, in a $1.84 billion (1.38 billion pounds) 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.
It will give news, business and sports brands to the Des Moines, Iowa-based publisher and broadcaster, which owns lifestyle magazines such as Better Homes & Gardens and Family Circle. Analysts have said that bulking up on publishing assets could give Meredith the scale required to spin off its broadcasting arm into a standalone company. When combined, the Meredith and Time brands will have a readership of 135 million people and paid circulation of nearly 60 million. The deal also will expand Meredith's reach with internet-savvy millennials, creating a digital media business with 170 million monthly unique visitors in the United States and more than 10 billion annual video views.
Did we mention the Koch brothers, aka Koch Koch and Luigi Koch?
(Score: 2) by Snotnose on Tuesday November 28 2017, @01:42AM (5 children)
knowing this huge conglomerate no longer needs to worry about net neutrality, nor any other non-monopolistic laws that have recently been gutted.
When the dust settled America realized it was saved by a porn star.
(Score: 1, Interesting) by Anonymous Coward on Tuesday November 28 2017, @01:53AM (1 child)
Of conservative and liberal media conglomerates, what markets and which media in those markets they compete in, and perhaps a list of obviously biased and reportedly objective journalism they have reported on in the past 5,10,15, and 20 years?
Inquiring minds want to know.
(Score: 0) by Anonymous Coward on Tuesday November 28 2017, @04:00PM
LOL. Liberal media conglomerates. Good one. Comedy gold.
I think you meant to say "Of far-right and center-right media conglomerates, what markets..."
(Score: 0) by Anonymous Coward on Tuesday November 28 2017, @02:47AM
The now-failed New York Times will get stuck paying the likes of Comcast for non-slow access to humans.
(Score: 2, Disagree) by khallow on Tuesday November 28 2017, @04:13AM (1 child)
They wouldn't have to worry about these rules anyway because their markets are competitive and none of their properties are ISPs.
(Score: 0) by Anonymous Coward on Thursday November 30 2017, @04:37PM
Pretty sure he was being sarcastic there.