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Time Inc Board to Consider Offers as Suitor Drops Out

On 7th March 2017, Time Inc’s board of directors are said to be considering the initial offers from up to five bidders including an investor group led by Edgar Bronfman Jr and Meredith Corp.

One day later, sources are saying that the investor group led by Bronfman had decided to drop out of the bidding, unwilling to bid up to the price reportedly wanted by Time Inc. Bronfman had earlier made an offer worth about $18 per share last november but was rejected by Time Inc.

Updated: March 9, 2017 — 9:23 am

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