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What Would The Koch Brothers Do With Time, People?

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What Would The Koch Brothers Do With Time, People?

Time Inc (NYSE: TIME) traded up 27 percent Thursday after Charles and David Koch were revealed as the backers of Meredith Corporation (NYSE: MDP)’s takeover bid.

The Koch brothers agreed to back Meredith’s purchase with more than $500 million, according to the New York Times — a figure that represents just 56 percent of their 2016 Republican campaign contribution budget.

As conservative billionaires known to buoy GOP candidates with generous checks, the Kochs' interest in Meredith makes sense. The firm parallels the Kochs in political contributions, and a conservative social philosophy is evident in Meredith’s parenting and lifestyle magazines.

Some of the Time portfolio makes sense, as well. The content of Fortune and Money appears to resonate with the Koch mission of advancing American prosperity.

But other components could be less poilitically compatible. Some consider Time’s titular publication to be left-leaning or centrist, and the Kochs may see opportunity to influence the widely read People, Entertainment Weekly and even Sports Illustrated platforms to better align with their philosophy.

Their level of editorial sway, should Meredith successfully acquire Time, isn't yet known.

Related Links:
Meredith's Guidance May Have Received A Boost From Time Takeover Rumors
Is Silicon Valley The New Frontier In Journalism?

Posted-In: Charles Koch David Koch Fortune koch brothersPolitics Media Trading Ideas General Best of Benzinga

 

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