Deals
Meredith Is in Late-Stage Talks for Time Inc. Takeover
- Time’s board said to meet Tuesday for update on sale talks
- Large U.S. company is said to want last right of refusal
A person walks past the logo of Time Inc. in the lobby of their office headquarters in lower Manhattan on March 3, in New York City.
Photographer: Gary Hershorn/Getty ImagesThis article is for subscribers only.
Meredith Corp.’s weeks-long pursuit of an acquisition of Time Inc. has advanced into late-stage discussions, according to people familiar with the matter.
While the slow pace has frustrated some involved in the process, a deal is still seen as more likely than not, though there’s no timetable for an agreement to be reached, said two of the people, who asked not to be identified discussing private information. Time’s board met Tuesday for an update on the sale talks, one person said.