PUB­LISH­ING: Mered­ith Corp. to sell its For­tune brand

Milwaukee Journal Sentinel - - Business -

Me­dia and pub­lish­ing gi­ant Mered­ith Corp. says it is sell­ing its For­tune brand for $150 mil­lion in cash to For­tune Me­dia Group. Mered­ith said Fri­day it will use the pro­ceeds to pay down debt. For­tune Me­dia Group is owned out­right by Thai busi­ness­man Chatchaval Jiar­a­vanon, a part owner of the in­ter­na­tional con­glom­er­ate Charoen Pokp­hand Group. Mered­ith, based in Des Moines, Iowa, had ac­quired For­tune as part of its pur­chase of Time Inc., which closed early this year. Mered­ith then sold Time mag­a­zine in Oc­to­ber to Marc Be­nioff and his wife, Lynne.

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