Meredith said today it agreed to pay $18.50 per share for all outstanding shares of Time Inc. Meredith said they will have no influence in the combined company.
Prior to the announcement, Meredith had just $28m in cash on hand, according to its latest quarterly report.
Meredith Corp is buying Time Inc for about $1.8bn (£1.35bn), a deal CEO Stephen Lacy called "a transformative and financially compelling growth opportunity" that joins two giant magazine companies. The deal is a coup for Meredith, which held unsuccessful talks to buy Time earlier this year and in 2013.
As it turns out, the Koch brothers are contributing more than that.
The Koch brothers have spent decades building a network of wealthy political donors who pledge money to conservative causes and their advocacy groups.
Rothschild also worked with Solera Holdings Inc.in a deal a year ago in which the Koch company provided $800 million of preferred equity.
Meredith brings with it a magazine portfolio that includes Better Homes & Gardens, Family Circle, allrecipes and Shape, while Time Inc. owns properties including Time, Sports Illustrated, People, Fortune and Entertainment Weekly. However, acquiring Time Inc with the help of the Koch brothers will give their media group access to a total readership of over 130 million and a subscription circulation of close to 60 million, per Reuters.
Once the two companies are merged, Meredith says they will serve almost 200 million consumers, with its digital media business reaching 170 million monthly unique visitors in the U.S. Meredith and Time Inc. made combined revenues of $4.8 billion in 2016, including $2.7 billion in total advertising revenue (with $700 million of that from digital advertising) and adjusted EBITDA of $800 million.
Travellers to and from the region are being urged to contact their airline or travel agent to find out the status of their flight. Bali is main tourist destination of Indonesia with a monthly flow of some 200,000 foreign tourists, according to official data.
In early November, Trump was on the golf course with Japanese PGA Tour pro Hideki Matsuyama and Prime Minister Shinzo Abe . Haters will point out that of his 305 days in office, Trump has spent 76 of them playing golf on his own properties.
ShopperTrak senior executive Brian Field released a statement on the debate over the decline in in-store retail shopping. Cyber Monday will be biggerAdobe predicts Cyber Monday will be the largest American online shopping day in history.
Ohio State ranked No. 3 in scoring defense last season with Schiano as co-coordinator and is No. 8 in total defense this year. He went 68-67 over 11 seasons at Rutgers , after taking over one of the worst programs in the country.
Coffee drinking is also linked to a lower risk of Parkinson's disease, depression, and Alzheimer's disease, the study found. So even if scientists found out that drinking it was bad for your health , most coffee-drinkers wouldn't pay any attention.
In a statement , they said: 'To date police have not located any trace of any suspects, evidence of shots fired or causalities. The Metropolitan Police issued a statement saying they responded to an "incident" at the Oxford Circus station.
He was sacked in 2015 and subsequently coached one season with the San Francisco 49ers before being let go after a 2-14 record. Kelly left OR for the National Football League following accusations of paying coaches to send players to his school.
Mullen reaches agreement with Florida
Former Gators coach Jim McElwain was sacked in late October after the team was beaten by Georgia . Mullen was hired at Mississippi State in December of 2008, replacing Sylvester Croom.
Pakistan justifies Saeed's release
Before becoming president, Trump criticized Pakistan and said in a tweet: "Get it straight: Pakistan is not our friend". Saeed carries a bounty of $10 million announced by the USA for his role in terror activities.
England probe Bairstow-Bancroft clash
It's understood Bancroft only told teammates of the incident in the past few days and has accepted an apology from Bairstow. Fox Sports News reported that the incident happened four weeks ago at the start of the tour of Australia.
Another Kashmiri soldier kidnapped and killed
Mehbooba's predecessor and opposition National Conference leader Omar Abdullah termed the incident as tragic and reprehensible. Srinagar: an army jawan was snatched and killed by suspected militants in Jammu and Kashmir's Shopian district.
Georgia: 12 dead in hotel fire
Three Turks and an Israeli were being treated at the Batumi University clinic, spokesman Kakha Chikhradze told Palitra News TV. More than 100 guests and employees were evacuated after the fire, of which the cause remains unknown.
Why Christmas trees are more expensive this year
Largent helps grow the trees and says, while they're aware of the shortage May Tree Farm has plenty at the Capitol Market. A tradition that some families have kept up for years. "So you have to manicure the tree as it goes".
Trump renews call for 'ban' after deadly attack in Egypt
In October 2015, 224 people were killed when a bomb brought down a Russian passenger jet that crashed in the Sinai Peninsula. Images from inside the building showed dozens of bodies wrapped in blood-soaked cloth lined up on the carpeted floor.
What the heck is going on with Derrick Rose?
In seven games this season he is averaging 14.3 points, 2.6 rebounds and 1.7 assists while shooting 47 percent from the field. A team spokesman said Friday that Rose has been excused since Wednesday and there is no timetable for his return.