American Meredith will buy the company that owns the magazines Time and People

© AFP 2017 / Natalia KolesnikovaОбложка of Time magazine on the screen. Archival photo<img src="/wp-content/uploads/sites/5/2017/11/38ddd56ce66ee93a924c2665a210e921.jpg" alt="American Meredith will buy the company that owns the magazines Time and People” />© AFP 2017 / Natalia Kolesnikova

American media conglomerate Meredith will buy the company Time Inc., which owns the magazines Time and People, for $ 2.8 billion, is spoken in the message of the conglomerate.

«We are creating a media company that will serve about 200 million Americans,» the statement said. It is noted that the transaction has been approved by the boards of Directors of both companies. The transaction will be completed in the first quarter of 2018.

According to the newspaper the New York Times, the deal joins two companies with different audiences.

According to the publication, the deal was done with the support of brothers Charles and David Koch. According to the representative of a Corporation Koch Industries, the brothers do not intend to participate actively in the activities of the company. «This is a passive financial investment,» he said.

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