Asked by: Antonetta Rukasked in category: General Last Updated: 21st January, 2020
Has Time magazine been sold?
Also asked, when was Time magazine sold?
magazines. Meredith agreed to purchase Time Inc. in an all-cash transaction valued at $2.8 billion last November, and the deal was made final on Jan. 31.
Also Know, is Time magazine going out of business? Gold. And with that, Time Inc. is gone. Once America's great magazine company, the much-reduced publisher was bought by Iowa's Meredith Corp. last year, with $650 million in equity from Koch Industries.
Keeping this in view, what company owns Time magazine?
Is Time magazine profitable?
Time generated revenue of $173 million in 2017, and operating profit of $33 million, according to the people, who reviewed an offering document used in the transaction process. The Benioffs are paying around 5.76 times operating profit for Time magazine.