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US: Meredith clears hurdle in Time acquisition

 |  January 14, 2018

Meredith Corp received good news on Friday, January 12, when just hours before the company’s planned acquisition of Time Inc. had its Hart-Scott-Rodino (HSR) waiting period expire, the Federal Trade Commission (FTC) offered an early termination after hearing no antitrust objections to the deal.

After two failed bids to acquire Time, Meredith announced on November 27 that it had reached a deal to buy the New York publisher and all its assets for US$2.8 billion. The transaction will deliver Meredith a massive media audience and deliver it considerable influence among advertisers.

With the HSR waiting period over, Meredith stated that it plans to close the deal within 30 days.

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