Time Inc. to be acquired by company backed by Koch brothers

[HipChick]

Meredith Corp., a publisher backed by GOP mega-donors Charles and David Koch, announced on Sunday it was buying Time Inc. for $1.8 billion, according to multiple reports.

The publisher said it would acquire Time's outstanding shares for $18.50 per share, Reuters reported.

The two companies said the deal had been unanimously approved by their respective boards and would close sometime early next year, according to the Associated Press.

“We are adding the rich content-creation capabilities of some of the media industry’s strongest national brands to a powerful local television business that is generating record earnings, offering advertisers and marketers unparalleled reach to American adults,” Meredith CEO Stephen Lacy said in a statement, according to Reuters.
http://thehill.com/homenews/media/361880-time-inc-near-sale-to-company-backed-by-koch-brothers-report

[mdbl]

1. Now trump can put his picture on the front cover every month

just like he lies about today.

[kimbutgar]

2. I predict they will lose money as rightwingers are not big readers

And there’s a lot of big words in the magazine.

[GeoWilliam750]

7. Somehow I wonder whether

The objective of this acquisition is to make money

[defacto7]

8. No, It's another way to filter the message.

In the long run I suppose they think they can change liberals to conservatives but they'll have to make the letters bigger, the words smaller and have a lot of cartoons. Maybe some color in guns.

[Matthew28]

3. Time to enforce

the Anti-trust laws

This is going too far

[Golden Raisin]

4. Good luck with Sessions at Justice

plus Trump and a Republican controlled Congress.

[Wellstone ruled]

5. So the Right Wing now has

News outlet of Record. Watch for mega Libertarian bent to the Content.

[jalan48]

6. The Age of the Oligarchs.

[defacto7]

9. You mean the New Age of the Oligarchs.

It's happened before.

[jalan48]

11. I mean the Age of the Oligarchs right now.

[Initech]

10. This should be better PR copy:

"We are giving two power hungry, criminally insane billionaires who make great James Bond villains the power to publish only positive things about them. Because we live in a world where facts don't matter, and we want these two to be able to buy the United States government and take over the world. And there isn't a damn thing you can do about it."

[lindysalsagal]

12. Excuse me while I cancel my TIME subscription. brb.

[lindysalsagal]

13. OK. Cancelled time. Moving to newsweek. Wish they asked me why. Maybe in an email.

I'll send my own little message to the koch monsters.