Meredith Bid for Time Said to Be Backed by Koch Brothers
Time is said to be in talks to sell itself to the Meredith, in a deal backed by Charles G. and David H. Koch, the billionaire brothers known for supporting conservative causes. The new round of negotiations, motivated by the surprise entry of the Kochs, could lead to a quick deal. The Kochs have tentatively agreed to back Meredith’s offer with an equity injection of more than $500 million. The companies have been negotiating over the past several days, and Meredith is reviewing the latest Time Inc. financial information. Although it is unclear whether the proposed deal will reach fruition, both sides hope to move quickly enough to be able to announce a transaction soon after Thanksgiving.