That Charles and David Koch are putting $650m into Meredith Corp’s purchase of Time would ordinarily be cause for great soul-searching in media. But then, these are not ordinary times.
Meredith’s Koch-backed deal with Time – which owns, in addition to Time magazine, titles including People, Fortune and Sports Illustrated – was sealed Sunday night. Meredith said in a statement announcing the deal that they are building “a premier media company serving nearly 200 million American consumers.”