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AP

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. In a statement, Meredith Corporation said KED will not have a seat on the Meredith Board and will have "no influence on Meredith's editorial or managerial operations."

Aside from any potential political incentives, a merger also helps Meredith expand its lifestyle content footprint. (Meredith owns several lifestyle magazines, like Better Homes and Gardens and Country Life, while Time Inc. owns People and Sports Illustrated.)The buildup: Time Inc. rejected a Meredith Inc. bid earlier this year — its second major takeover rejection since last November, when it turned down at $1.8 billion bid from an investor group that included billionaire Edgar Bronfman Jr. Like many media companies with large print portfolios, Time has been focused on ways to sell some of those properties and to focus on digital opportunities. Its competitors are also pursuing similar lifestyle mergers. Just last month, Hearst acquired lifestyle magazine company Rodale Inc.Go deeper: This move is another example an of how rapid consolidation in the media sector has created more opportunities for partisan influencers to expand their reach.

Go deeper

Venezuela suspends talks with opposition after Maduro ally extradited to U.S.

Venezuelan President Nicolás Maduro in Caracas, Venezuela, in June. Photo: Gaby Oraa/Bloomberg via Getty Images

A key ally of Venezuela's President Nicolás Maduro was extradited from Cape Verde to the U.S. Saturday to face money laundering charges in Florida, Bloomberg first reported.

Why it matters: Venezuela's government called off negotiations with opposition officials that were scheduled for Sunday in Mexico in response to the extradition of Alex Saab, a Colombian businessman and financial fixer for Maduro.

4 hours ago - Health

5 times as many police officers have died from COVID as from guns since pandemic began

Photo: Genaro Molina / Los Angeles Times via Getty Images

COVID-19 is the leading cause of death for police officers even though members of law enforcement were among the first to be eligible to receive the vaccine, CNN reports, citing data from the Officer Down Memorial Page.

Why it matters: Nearly 476 police officers have died of COVID-19 since the pandemic started, compared to the 93 deaths as a result of gunfire in the same time period, according to ODMP and CNN.

Virginia energy giant quietly boosts McAuliffe

Former Virginia Gov. Terry McAuliffe speaks during a campaign rally on Oct. 15 in Henrico, Virginia. Photo: Win McNamee/Getty Images

Virginia Democrat Terry McAuliffe has sworn off money from the Richmond company Dominion Energy. But the utility has found more subtle ways to back McAuliffe's gubernatorial bid, records show.

Driving the news: Dominion's political action committee has donated $200,000 to a murky political group called Accountability Virginia PAC, a group with ties to prominent Democrats that's been running ads attacking Republican candidate Glenn Youngkin from the right.