Koch brothers reportedly lend Meredith Corp. a hand in Time Inc. bid

David Koch

The publisher of Family Circle, Better Homes and Gardens and other monthly titles, is in talks to buy Time Inc., according to a report late Wednesday.

Negotiations have been ongoing over the last several days, the Times says.

The Kochs have tentatively agreed to support Meredith's offer with an equity injection of over $500 million, according to the person, confirming an earlier New York Times report.

Time Inc. also declined to comment. The Times said a deal may be announced after Thanksgiving. Like its competitors, Time is struggling to reinvent itself as print advertising dries up and the lion's share of digital advertising dollars goes to Facebook Inc. and Google.

Meredith Corp.is building financing to make a takeover bid for Time Inc., people familiar with the matter told Dow Jones Newswires.

Then in September, Time Inc., said it was interested in selling some of its assets including its Time U.K. unit and several US magazines. Another deal in 2013 between the publishers also collapsed.

The political network overseen by Koch brothers set a spending goal of $889 million on the 2016 election. It was unclear how much influence the Kochs, known for supporting conservative causes, would have if a deal is made.



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