Koch Brothers Fund Purchase Of Time Inc.

The Guardian reports:

Meredith Corporation has announced that it is buying the Time Inc publishing group in a “transformative” $1.8bn deal that joins two huge magazine companies.

Meredith, which owns a portfolio including Better Homes & Gardens, Family Circle, allrecipes and Shape, will fund the deal with the help of the rightwing billionaire Koch brothers, who have contributed $650m of preferred equity.

Charles and David Koch head a $115bn energy and industrial group, Koch Industries, and are well-known supporters of libertarian causes.

Their involvement in the deal to buy the publisher of Time, Sports Illustrated, People, Fortune and Entertainment Weekly, has raised questions about whether their interest is political.