Business Standard



| The Meredith Corporatio­n agreed to purchase Time in an all-cash transactio­n valued at nearly $3 billion | The deal was made possible, in part, by an infusion of $650 million from the private equity arm of Charles G and David H Koch | As Meredith has stood relatively strong, Time has stumbled. The company failed to keep pace as the industrywi­de transforma­tion from print to digital rendered old methods of magazine-making obsolete | A deal between Meredith and Time Inc fell apart in 2013 after Meredith reportedly said that it did not want to acquire some of Time Inc’s best-known titles, including Time, Fortune and Sports Illustrate­d | Adding Time’s portfolio will give Meredith even more national scale | Under the terms of the deal, Meredith will pay $18.50 a share for Time Inc

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