Nov 16, 2017

Report: Kochs backing Meredith purchase of Time Inc.

Time Inc., which owns Time, Sports Illustrated and People, is again in sales talks with Meredith Corporation, which owns Better Homes and Gardens, Parents and Living, NYT reports. This time, the merger is backed by billionaire libertarian brothers Charles and David Koch.

Why it matters: Time Inc. and Meredith have been through several rounds of reported talks about a merger, but all have fallen through — some at late stages. Sources tell The Times that the Koch's backing could quickly push a deal over the finish line.

Go Deeper: 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. It launched an over-the-top streaming channel for Sports Illustrated yesterday.

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Scoop: Amazon's local podcast play

Illustration: Sarah Grillo/Axios

Amazon is looking to invest in localized podcast content, like news and sports, sources tell Axios. Sports content is top of mind as the company plans to buy up more TV rights and have adjacent audio content for users.

Why it matters: Amazon sees a strategic advantage in podcasts by leveraging Alexa voice tech to help users discover personalized content.

The oil stakes of Trump vs. Biden

Reproduced from Rapidan Energy Group; Chart: Axios Visuals

U.S. oil production is in a steep decline, but one question is how much November's elections will affect how much it does — or doesn't — bounce back.

Why it matters: The powerful price and demand headwinds from the coronavirus pandemic are creating a financial crisis in the oil patch.

The top stories from "Axios on HBO"

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