Sunday, the Meredith Corporation announced it would buy Time Inc. for $1.84 billion in an all cash deal. Time Inc. publishes Time Magazine, People, Sports Illustrated, and Fortune, giving Meredith a strong presence in print media. The deal is being backed by Charles and David Koch, two well-known conservative donors to the Republican party. Their private equity company, Koch Equity development, is giving $650 million in preferred equity to Meredith to fund the deal. Meredith has said the Koch brothers will not have a seat on their board or on Meredith’s editorial or management operations. Still, given the Koch brothers’ involvement, a question comes to mind. Is this sale a good thing for the American media?
Fox Business covering Time Inc.’s stock prices and their reported sale:
Is the Time Inc. sale a good thing for the American media? Will it bring more balance to the mainstream media? Or, is this a further eroding of the free press in this country?