Meredith Corp. to Buy Time Inc.

The U.S. media company Meredith Corp it will be buying Time Inc. for a $1.84 billion all-cash deal. When this deal goes through, the Meredith and Time brands will then have a readership of 135 million people and a paid circulation that comes close to 60 million. Meredith is expecting the deal to go through within the first three months of 2018.

In announcing the deal, the company said that it “underscores a strong belief in Meredith’s strength as a business operator, its strategies, and its ability to unlock significant value from the Time acquisition.”

 Meredith Chief Executive Stephen Lacy said “We are adding the rich content-creation capabilities of some of the media industry’s strongest national brands to a powerful local television business that is generating record earnings, offering advertisers and marketers unparalleled reach to American adults.”