As officially announced on Sunday, Time Inc. will be acquired by Meredith Corporation thanks to additional funding support from the Koch Equity Development firm.
The transaction is expected to close in the first quarter of 2018, and will cost about $2.8 billion in an all-cash deal. Koch Equity Development contributed $650 million to the deal and will not have a seat on the Meredith Board and will have “no influence on Meredith’s editorial or managerial operations,” according to the terms of the agreement.
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