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Time Inc. Bought By Meredith Corp. in Koch-Backed Deal

Fabled magazine publisher Time Inc. is being bought by slightly-less-fabled publisher Meredith Corporation for $2.8 billion cash. The $18.50 share price is a 46% premium over the stock’s recent level but well under the $25.95 all-time high in 2015. Meredith’s investment is supported by $650 million from the arch-conservative Koch brothers, who promise no involvement in editorial decisions. Sure.