Meredith Corp and Edgar Bronfman Lead Investor Group In Neck and Neck Race For Time Inc
BOTH GROUPS HAVE SIGNED NON-DISCLOSURE AGREEMENTS WITH TIME INC
It looks like the race to acquire Time Inc has advanced with Meredith Corp and the Edgar Bronfman lead investor group running neck and neck it seems. Both groups have signed non disclosure agreements with Time Inc indicating both have either combed through or is combing through Time Inc's financials and other data. There is believed to be other groups that also signed non disclosures but they aren't mentioned which could mean they are not seen as likely victors in the pursuit for America's biggest and most storied magazine publisher. The focus seems to be on the Bronfman lead consortium which made an almost $2 billion offer for the company a few months back but was turned down. And Meredith Corp which has flirted with Time Inc off and on since right before it was spun off from Time Warner. Both Meredith and Bronfman could make a deal where, Meredith takes the titles that fit with its female focused brand and Bronfman runs off with the rest of the company. Anything is possible because it is believed Meredith is only really interested in a select few of Time brands. But none of that can happen without Time Inc's brass agreeing. So for now, we'll have to wait and see who the highest bidder is.
Meredith Corp and Edgar Bronfman Lead Investor Group In Neck and Neck Race For Time Inc Reviewed by Editor on 11:42 PM Rating: