Investors sent stocks of both Time Inc. and Meredith up Monday, after the companies' announcement Sunday evening that Meredith reached an agreement to acquire Time Inc.
The magazines now published by Meredith are not highly circulated, as their current line-up includes niche publications such as Better Homes and Gardens, Every Day with Rachael Ray, and Traditional Home. On Friday, Time shares closed at $16.90.
The primary focus of the Kochs' activism is free market economics, limited government, and lowered taxes. Meredith approached Time again earlier this year, but those discussions also stalled when Meredith reportedly failed to secure enough bank financing for the acquisition. Once part of Time Warner Inc, Time Inc was spun out as a separate unit in 2014 after talks to merge the division with Meredith collapsed.
Meredith's deal is backed by $650 million from Koch Equity Development, the investment arm of Koch Industries, an industrial conglomerate rooted in the oil and gas business.
The deal gives Meredith, publisher of Better Homes & Gardens, a larger audience at a time when publishers need to get bigger to compete with Facebook and Google in advertising.
Miss Universe 2017: India loses, South Africa wins
Several media men also reacted to the Top 10 finish of the Bicolana beauty queen and why she did advance further. South Africa's Demi-Leigh Nel-Peters won the crown while Colombia's Laura González Ospina was first runner-up.
Meredith executives said that no one affiliated with the Kochs will have a seat on the company's board and that there will be "no influence" exerted by the billionaire brothers on the magazines' editorial content.
In May of this year, Time Inc announced plans to sell some magazines or other properties as it tried to push ahead with a digital strategy. "We look forward to completing the transaction; welcoming the Time Inc. employees to Meredith; delivering on our pledge to achieve identified synergies; and growing shareholder value".
Best Black Friday US games deals
Unfortunately, Nintendo doesn't have as much Black Friday deals as Xbox, PlayStation, and PC but it has a fair amount. Amazon.com, for example, has plenty of great games deals, on disc copies and digital downloads.
If you're in the market for an Xbox One S , Microsoft is in fact offering its lowest-ever price on that device at $189 . For a complete round-up of the best Black Friday deals, head over to our Black Friday Deals hub page .
Many people in Alabama do not even have to wait for the balances of the Friday insane to fight in a store on Thursday evening. Multiple women can be seen in a tussle with a police officer, with others being pinned to the ground by store employees.
It was deja vu for the home side who were beaten by the Gunners in the dying seconds of the same fixture last season at Turf Moor. Arsene Wenger believes Arsenal will proceed with a renewed sense of confidence following their late 1-0 victory at Burnley .
Additionally, there is " growing uncertainty inside and outside " the Cavaliers about whether or not Rose will return to the team. Rose has missed 11 of the Cavs' 18 games this season, including the past seven because of a sprained left ankle.
The Logical Indian community urges the railway ministry to take immediate measures to avoid train accidents . Rescue operations have started and Railway Minister Piyush Goyal is monitoring the situation, Saxena added.
The draw with Chelsea closed the gap between Liverpool and Manchester City to 11 points, but Klopp said there was no reason for his team to even entertain thoughts about chasing down the runaway league leaders at the moment.
He won 12 games in each of his last three years with OR and went 10-3 in his first season with the school in 2009. The University of Florida had been pursuing Kelly, but the Gators chose to move in another direction this week.
Congress and BJP are in a tug of war over the delay in starting the winter sessions of Parliament for the last one week. The Cabinet Committee on Parliamentary Affairs today has recommended the dates for parliament's winter session.
Saudi-led Coalition to Begin Allowing Aid Into Yemen
The Saudi-led coalition fighting rebels in Yemen has pledged to reopen the country's main airport, as well as two main ports. The UN Food and Agriculture Organization (FAO) says Yemen is highly dependent on imported wheat for its basic needs.