Third time might be a charm for Time

Barnes & Noble

Time Inc is in talks with Meredith Corp again to sell itself in a potential deal backed by billionaire brothers Charles Koch and David Koch, the New York Times reported. The Times said a deal may be announced after Thanksgiving.

The two companies were in talks earlier this year, but couldn't agree to terms back in April.

Representatives from both Meredith and Time Inc. declined to comment. Meredith's stock likewise went up as a result, to $59.70 a share-a 10 percent increase. In addition to Time magazine, Time Inc. publishes People, Sports Illustrated, Entertainment Weekly and more than 100 other magazines.

Meanwhile, publishers such as Meredith and Time are trying to adapt to the digital age, working to replace their shrinking print advertising and circulation with ad revenue from online subscriptions, videos, e-commerce and other endeavors.

The New York Times cited unnamed sources to say the Koch brothers have tentatively agreed to provide more than $500 million in equity on Meredith's behalf.

Meredith, based in Des Moines, also publishes such magazines as FamilyFun, Allrecipes and Parents.

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