SoylentNews is people
SoylentNews
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: 1, Troll) by frojack on Tuesday November 28 2017, @02:01AM (5 children)
It will take ten years for Meredith to drag Time to the center, and another ten to drag them to the conservative side.
Bezos took a Center-Left Newspaper and rebuilt it as whacko May-Day-Parade Antifa leftist in under a year. Money talks.
No, you are mistaken. I've always had this sig.
(Score: 5, Informative) by bob_super on Tuesday November 28 2017, @02:27AM (4 children)
Why would it take ten years?
There are plenty of journalists out there eager to replace anyone who doesn't quickly learn to write as required.
Properly sliding the editorial priorities rightward without spooking too many readers at once? A year, maybe...
(Score: 0) by Anonymous Coward on Tuesday November 28 2017, @02:50AM
Right? Post truth reality, shorten attention spans and spew a new narrative. "It all makes sense! I read about this somewhere."
(Score: 2, Interesting) by Anonymous Coward on Tuesday November 28 2017, @03:57AM (1 child)
Mom (88) took one look at this news, remembered that her Time subscription runs out in May 2018, and pretty much figured that she wasn't going to be renewing. So she's only giving the Kochs ~6 months to change the culture. Too bad, she's retired and likes paper magazines...
Every now and then I read one of the Time lead articles, but probably only a few each year when I visit her house.
(Score: 1) by anubi on Tuesday November 28 2017, @07:08AM
The only time I remember reading TIME was at the dentist's office.
It was either that or a bunch of sports mags, or Vanity Fair.
Or that overhead TV they have in their waiting room, endlessly repeating an ad loop for their tooth veneer work.
They do not have WIFI.
And Soylent is one of the very few sites I risk visiting when I have a 100MB/month limit on my phone 4G plan. I can go through that in an hour or two if I carelessly browse the web with it.
But yes, print mags are nearly gone, except for the social gossip. All of the electronic engineering trade mags I used to read, except Circuit Cellar, are now gone. I still see print mags at Fry's, but I wonder who is buying any - nothing up there I am interested in.
"Prove all things; hold fast that which is good." [KJV: I Thessalonians 5:21]
(Score: 2) by frojack on Tuesday November 28 2017, @09:04AM
Look how long it has taken to have an election.
Where do you think the deep state actually lives? In some back office with air-shaft view on the third floor of a nondescript office building?
There will be squealing all the way butcher shop.
No, you are mistaken. I've always had this sig.