Meredith Corp., the Iowa-based media company, will purchase Time Inc. for $18.50 per share in an all-cash transaction valued at $2.8 billion, according to a statement.
Roughly one-quarter of the deal value ($650 million) is being financed by Koch Equity Development (KED), the investment arm of Koch Industries, run by Republican mega-donors Charles and David Koch.
Why it matters: Backing from the Koch brothers will likely prompt questions about the editorial independence of Time Inc.'s news properties, like Time Magazine and Fortune.
