Time inc sold to Koch bro owned company

[sofamonkey]

“U.S. media company Meredith Corp said on Sunday it will buy Time Inc, the publisher of People, Sports Illustrated and Fortune magazines, in a $1.84 billion all-cash deal backed by conservative billionaire brothers Charles and David Koch.

The deal is a coup for Meredith, which held unsuccessful talks to buy Time earlier this year and in 2013.”

www.google.com/amp/mobile.reuters.com/article/amp/idUSKBN1DQ0TH

Magazines owned and published by Time Inc.:
Time
Sports Illustrated
Travel + Leisure
Food & Wine
Fortune
People
InStyle
Life
Golf Magazine
Southern Living
Essence
Real Simple
Entertainment Weekly

[miniroller]

Ummm, I don’t like this, but need to know how worried I should be..? After Sinclair Broadcast Group snapping up thousands of local news channels, OH & net neutrality in major jeopardy & now this 😐
Isn’t this how dictators do it, guys?! Why aren’t more people freaking out about this?!?

But then I just thought of the argument my one R friend will present- that all they have is Fox; everything else in the MSM is most definitely liberal, so this is just “evening things out” if you will.

[cookiemdough]

Huh. I wonder how this will impact Essence magazine.

[karinothing]

Koch brothers actively dislike Trump at least. At least they did, they openly campaigned against him.

[compassrose]

Fuck. The last thing we need is more neocon mainstreaming.

[pantsparty]

Nov 27, 2017 6:34:11 GMT -5 karinothing said:

Koch brothers actively dislike Trump at least. At least they did, they openly campaigned against him.

I don't think they dislike him anymore. A majority of Trump appointees have the Kochs' fingerprints all over them, probably mainly due to Pence, whom they have supported for years.

[krystee]

Between this and Sinclair, I am trying not to cry. Or give up. But how do you fight against this fascist machine with never-ending deep pockets and a massive platform?

[andwhat]

Nov 27, 2017 5:46:26 GMT -5 cookiemdough said:

Huh. I wonder how this will impact Essence magazine.

I predict it will be the first to go.

[ginger]

Nov 27, 2017 3:32:31 GMT -5 miniroller said:

Ummm, I don’t like this, but need to know how worried I should be..? After Sinclair Broadcast Group snapping up thousands of local news channels, OH & net neutrality in major jeopardy & now this 😐
Isn’t this how dictators do it, guys?! Why aren’t more people freaking out about this?!?

Because their propaganda machine is working. Outrage fatigue is real. As we keep seeing, it makes very little impact when doing the things we can do to fight back like calling our members of congress, but it's important to keep fighting.

I have to admit though, I feel more hopeless than hopeful these days. But we must push on.

[sofamonkey]

Nov 27, 2017 8:46:38 GMT -5 andwhat said:

Nov 27, 2017 5:46:26 GMT -5 cookiemdough said:

Huh. I wonder how this will impact Essence magazine.

I predict it will be the first to go.

Maybe not. I think they like money that comes from other people too much.

[sb]

To clarfiy, the Koch brothers do not own Meredith Corp. Meredith borrowed $650M from them in order to raise the money to do an all cash buyout.

They've also stated that the Kochs will not have a position on the board or any influence on editorial or managerial operations. The way they worded it makes me think they could have some influence on financial decisions.

[sofamonkey]

Nov 27, 2017 11:58:40 GMT -5 sb said:

To clarfiy, the Koch brothers do not own Meredith Corp. Meredith borrowed $650M from them in order to raise the money to do an all cash buyout.

They've also stated that the Kochs will not have a position on the board or any influence on editorial or managerial operations. The way they worded it makes me think they could have some influence on financial decisions.

Yeah, ok. But they loaned them a sizeable amount of money so they could make his as a cash purchase. How much money do you think they’re charging for this loan? Money from these publications will go directly into the pockets of the Koch brothers. I have a strong feeling they have plenty of say on how thugs go, even if it’s not on paper.