NEW YORK (AP) — Media and publishing giant Meredith Corp. says it is selling its Fortune brand for $150 million in cash to Fortune Media Group.
The deal, subject to regulatory approval, is expected to close by the end of the year. Meredith said Friday it will use the proceeds to pay down debt.
Fortune Media Group is owned outright by Thai businessman Chatchaval Jiaravanon, a part owner of the international conglomerate Charoen Pokphand Group.
WASHINGTON (AP) — Time Magazine is being sold by Meredith Corp. to Marc Benioff, a co-founder of Salesforce, and his wife, it was announced Sunday.
Meredith announced that it was selling Time magazine for $190 million in cash to Benioff, one of four co-founders of Salesforce, a cloud computing pioneer.
Meredith had completed the purchase of Time along with other publications of Time Inc. earlier this year.
NEW YORK (AP) — Donald Trump paid $1.375 million in 1998 to settle a class action lawsuit involving Polish laborers who demolished a building at the site of Trump Tower, according to a settlement unsealed by a judge.
NEW YORK (AP) — Magazine and broadcasting company Meredith is buying magazine publisher Time for about $1.8 billion, with help from the billionaire Koch brothers, to bulk up on readers as the publishing industry navigates the difficult transition to digital from print.
NEW YORK (AP) — Time Inc. is considering selling itself to fellow publisher Meredith Corp., according to media reports.
The New York Times initially reported that the New York-based publisher of Time and People is involved in a new round of negotiations with Meredith, the publisher of Family Circle and Better Homes and Gardens.
NEW YORK (AP) — Time's stock tumbled Friday after the publisher said its board is not considering a sale of the company.
The New York-based company said that a number of parties expressed interest in the business. But Time's board decided the company was better off continuing with its current plan, which includes increasing revenue from its digital operations and using its brand on other platforms such as TV, events and new products.