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Meredith Corporation to buy Time Inc. for nearly $3 billion
New Delhi, Nov 28 (ANI): The U.S. media company Meredith Corporation is all set to purchase Time Inc. for nearly $3 billion. New York-based Time Inc. publishes some of the most popular magazines, including Time, People and Sports Illustrated. The deal was made possible by a $650 million injection from billionaire brothers Charles and David Koch. According to Meredith, the Kochs will neither have a seat on its board nor will they have any influence on editorial or managerial operations.