It seems every few months a headline emerges about Time Inc. and whether or not acquisition talks have begun or stalled. Today the New York Times reports that the ailing media company is once again in talks with the magazine publisher Meredith about a potential purchase. What’s more, the infamous conservative billionaires Charles G. Koch and David H. Koch are said to be potentially backing the deal with an investment of more than $500 million. This would add to the growing list of right-wing millionaires who have considered a Time Inc. purchase.
This is the third time Meredith has entertained the idea of buying Time. The last time, the deal faltered partly because Meredith was unable to receive funding help from banks. With the Koch’s help, that obstacle is overcome.
The Times writes that the parties are reviewing the latest terms of the potential acquisition, and it could “lead to a quick deal.” The question remains: What sort of control would the hyper-libertarian Kochs exert over the publications?
Time Inc.’s stock jumped significantly on the news, opening at $15.20 this morning compared to $12.65 at the previous day’s close.
You can read the full New York Times piece here.