Completing Fortune Sale, Meredith Had $340M in Time Asset Sales, Talks for More
Meredith completed the $150 million sale of Fortune to Thai executive Chatchaval Jiaravanon's Fortune Media Group (see 1811090018), Meredith said Friday. The U.S. TV-station owner and publisher said it has gotten $340 million from selling that magazine and Time "and…
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is in active negotiations to sell the Sports Illustrated and MONEY media brands." It got the assets when it bought Time Inc. Jan. 31 in a $1.4 billion deal.