Published in The Guardian, November 27, 2017
The company’s decline is readily apparent – but if the billionaire brothers’ other interests are a guide, their investment will be about more than money
That Charles and David Koch are putting $650m into Meredith Corp’s purchase of Time would ordinarily be cause for great soul-searching in media. But then, these are not ordinary times.
Meredith’s Koch-backed deal with Time – which owns, in addition to Time magazine, titles including People, Fortune and Sports Illustrated – was sealed Sunday night. Meredith said in a statement announcing the deal that they are building “a premier media company serving nearly 200 million American consumers.”
Observers of Koch Industries, a longtime supporter of libertarian and conservative causes, especially generous with funding for climate denial through think tanks and research groups, say more than business is at stake.