Equities

Reuters first to report Meredith to buy U.S. publisher Time in Koch-backed deal

Reuters first to report Meredith to buy U.S. publisher Time in Koch-backed deal

Reuters was first to report that U.S. media company Meredith Corp was nearing a deal to acquire Time Inc. with the backing of conservative billionaire brothers Charles and David Koch. It will give news, business and sports brands to the Des Moines, Iowa-based publisher and broadcaster, which owns lifestyle magazines such as Better Homes & Gardens. When combined, the Meredith and Time brands will have a readership of 135 million people and paid circulation of nearly 60 million.