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.
Rob Curran, email@example.com
(END) Dow Jones Newswires
November 27, 2017 17:32 ET (22:32 GMT)