Article from The Washington Free Beacon by Jack Heretik.
Charles and David Koch are among the new owners of the recently sold Time Inc., the company that owns and publishes over 100 magazine brands, including Time Magazine.
The sale of Time Inc. to the Meredith Corporation went through Sunday night for approximately $3 billion, the New York Timesreports.
In addition to Time Magazine, publications Time Inc. owns include Sports Illustrated, People, and Fortune. The Meredith Corporation already owns Family Circle, AllRecipes and Better Homes and Gardens.
$650 million of the Meredith Corporation’s $3 billion purchase came from the Koch Brother’s private equity.
Read the entire article at the Washington Free Beacon.
Image Credit: By KAZ Vorpal (Flickr: Declaration of Independence, with Firearm) [CC BY-SA 2.0 (https://creativecommons.org/licenses/by-sa/2.0)], via Wikimedia Commons