by Andy Rowell, Common Dreams, 11/27/17
Which includes a reminder: You don’t invest $650 million for nothing.
Last night, the media company, Meredith, announced it was buying Time magazine for an estimated $2.8 billion.
Meredith Corporation Chairman and CEO, Stephen Lacy, said: “We are creating a premier media company serving nearly 200 million American consumers across industry-leading digital, television, print, video, mobile, and social platforms positioned for growth.”
Buried deep in the press release was where a significant proportion of this money was coming from: “Meredith has also secured $650 million in preferred equity commitment from Koch Equity Development (KED).”
And here is where the alarm bells should start ringing. The KED fund is run by the Koch Brothers, some of the biggest funders of groups promoting climate denial and libertarian causes for the last two decades….
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