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Photo: Gary Hershorn/Getty Images

Iowa-based media company Meredith Corp. has revived its takeover efforts for magazine publisher Time Inc., with the help of more than $500 million in promised equity backing from Charles and David Koch.

Why it matters: The Koch Brothers are billionaire industrialists better known for their conservative political activism. Their possible ownership take in Time Inc. would prompt questions about the editorial independence of news publications like Time and Fortune.

Scoop credit: The New York Times was first with the news.

Background: The idea of a Time Inc. takeover appeared to have died earlier this year, and Meredith's past interest always seemed to be more about Time Inc.'s lifestyle brands (e.g., People, Real Simple, etc.) than its news brands (e.g., Time, SI, Fortune, etc.). But game back on, and the Koch Brothers' surprise involvement suggests that Meredith would be willing to buy the entire package.

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.

Caution: Time Inc. shares surged more than 21% in aftermarket trading on the news, boosting its enterprise value north of $2.4 billion. But that's still well below the company's value back in Q1, when Time Inc. was in the midst of an acknowledged auction process.

Bottom line: "There are lots of rich, powerful men in the U.S. But there are only a handful of big, powerful media companies. If you're trying to get your messages across to a lot of people, even a declining one might seem attractive." — Peter Kafka, Recode

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.

5 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.

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