Bidding For Time Inc Said to be Highly Competitive As New Bidder Emerges

Edgar Bronfman may have pulled his group's bid for Time Inc, but the bidding war is still highly competitive as a private investment group emerges as a bidder. A deal is believed to be getting closer but it looks like this new group lead by Jahm Najafi, chief executive of private investment firm Najafi Cos and includes private-equity firm Pamplona Capital Management is serious about walking away with the prize. This is the only known bidder in addition to Meredith that is part of the process. There is believed to be other bidders but they have opted to remain anonymous.


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