Report: Koch Brothers Back Meredith in Talks for Time Inc.

Billionaire brothers Charles G. and David H. Koch are said to be backing Meredith Corp. in revived talks to acquire Time Inc., The New York Times reports. Citing sources familiar with the negotiations, the Times says a new round of negotiations has been spurred by the Koch brothers’ involvement after earlier talks on a potential deal failed this year. The Kochs have tentatively agreed to prop up Meredith’s offer with a more than $500 million equity injection, according to the report. The negotiations mark the third known bid by Meredith, the publisher of Family Circle and Better Homes and Gardens, to acquire the publisher of Time, Sports Illustrated, and People magazines. It is not clear how much influence the Koch brothers—who are known for backing conservative causes—would have over Time Inc. if the deal goes through.