Meredith, Time Inc restart deal talks with Koch brothers' support

Meredith, Time Inc restart deal talks with Koch brothers' support

The New York Times reports that Time Inc., which publishes popular magazines like People and Time, is back in talks to sell itself to fellow publisher Meredith Corporation, which produces Family Circle, Martha Stewart Living and Better Homes and Gardens.

Time and Meredith both declined comment on the reports. The Kochs could help support Meredith's offer with $500 million in equity capital, and a deal could be announced shortly after Thanksgiving. The deal is said to be backed by the Koch brothers.

The Kochs entertained a bid for the Tribune Company in 2013, The Times reported.

Shares of Time, Inc.

Russian Federation shoots down US-backed extension of Syria gas attacks probe
Russian envoy Vassily Nebenzia, left, speaks with France's François Delattre at a Security Council meeting on Syrian chemical weapons use on October 24, 2017.

T-Mobile US shares rose after Reuters reported that the carrier will roll out its fifth-generation network across the U.S.by 2020 and propose a "significant" share buyback.

Charles Koch and David Koch are tied for 12th place on the Bloomberg Billionaires Index of the world's richest people, each with a net worth of about $47 billion.

Des Moines-based Meredith also owns 17 television stations, according to USA Today. The brothers own Koch Industries, a Wichita, Kansas-based conglomerate with businesses from oil and ranching to farming and electrical component manufacturing. The company's magazines include Time, Sports Illustrated and Fortune.

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