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BUSINESS BEAT : Deal was matter of survival

Nov 28, 2017 - Los Angeles Times

Time Inc. decided that if its famous magazine titles such as Time, People and Sports Illustrated were going to survive the wrenching shift from print publishing to digital viewership, the company couldn't do it alone.

And so Time agreed to be acquired by another magazine publisher, Meredith Corp., whose titles include Family Circle and Better Homes & Gardens, for $18.50 a share, or $2.8 billion, which includes the assumption of Time's approximately $1 billion in debt.

Wall Street app...