Koch Brothers supports Meredith on the acquisition of Time Inc

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Charles and David Koch, a billionaire industrialist brother US, provide editor and moderator Meredith Corp. Renewed support time to buy Inc., after a person familiar with the case. The time shares grew by 23 percent.

Koch agreed to support Meredith’s $ 500 million capital injection, a person who endorsed the New York Times report. The person was asked not to be identified because the thing was private.

The e-mail from the billionaire brothers, Koch Industries Inc., was not answered immediately. The Time Representative does not want to comment, and Meredith’s email out of time is not returned immediately.

The agreement involves cooking will likely raise more questions about political influence in the media, especially the world of newspaper publishing as Timeov Newspaper, founded in 1923 and originally directed by Henry Luce. Billions of brothers have for decades built a network of wealthy political financiers who promise money for conservative purposes and advocacy.

This will be the third time that Meredith has been trying to attract time since 2013, the publisher of Martha Stewart Living, Better Homes & Gardens, the form and parents of one of the few rival bidders were made earlier offers this year, but the contract rejected in Meredith At that time, they offered up to $ 2 billion before lowering their offer, people familiar with the subject said. The forwarding shares closed on Wednesday at a rate of $ 12.65 in New York and rated the publisher with $ 1.26 billion. Meredith had a value of $ 2.42 billion.

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Charles Koch and David Koch are tied for 12th place in the Bloomberg Billion Index for the richest people in the world, each with a net worth of over $ 47 billion. The brothers own Koch Industries, a conglomerate based in Wichita, Kansas, with agricultural and livestock companies in the agricultural sector and electrical component manufacturing.