Telecoms Higher After Meredith-Time Deal -- Telecoms Roundup

Features Dow Jones Newswires

Shares of telecommunications companies ticked up after reports of a major merger between magazine properties. Meredith Corp., the owner of Better Homes & Gardens and Allrecipes, struck a deal to buy magazine publisher Time Inc. for $1.85 billion in cash, or $18.50 per share, plus the assumption of the iconic publisher's debt. The financing it secured includes $650 million from Koch Equity Development, a private equity arm of Koch Industries.

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Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

November 27, 2017 17:32 ET (22:32 GMT)