Time Inc. Stock Jumps After Sale Reports

Koch brothers back bid to buy Time Inc report

(NYSE:TIME) have soared today, up by 23% as of 12:30 p.m. EST, after The New York Times reported that the company may be looking to sell itself to Meredith Corporation (NYSE:MDP).

This would be the third time Meredith has attempted to acquire Time since 2013.

Talks between Meredith and Time came to nothing earlier this year, but with new backing from the Kochs, it is thought that a deal could be agreed imminently.

A merger could help both magazine publishers team up on ad sales. Iowa-based Meredith publishes Better Homes and Gardens and Martha Stewart Living, among others. Time shares closed at $12.65 in NY trading Wednesday, valuing the publisher at $1.26 billion. Meredith had offered as much as $2 billion at the time before lowering its bid, people familiar with the matter said at the time.

NFL Player Reveals He Played Hours After Experiencing Family Tragedy
Both Goodwin and his wife attended the University of Texas at Austin and they Wednesday in February of 2016. I just wanna thank those who've genuinely prayed for @ morganakamomo & myself through out this pregnancy.

Shares of Time, Inc.

The two publishers have engaged in two known previous rounds of talks. The company's magazines include Time, Sports Illustrated and Fortune.

The Federal Communications Commission reversed longstanding limits on local ownership of TV stations as well as radio stations and newspapers, opening the door to a new wave of consolidation, as Chairman Ajit Pai cast the ownership rules as a relic of the pre-Internet age.

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