Cooley Client Meredith to Acquire Time in $2.8 Billion Deal

Washington, DC – November 29, 2017 – Cooley advised Meredith Corporation on its agreement to acquire all outstanding shares of Time in an all-cash transaction valued at $2.8 billion. The transaction is expected to close Q1 2018. Partner Kevin Mills led the Cooley team advising Meredith.

“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,” said Stephen M. Lacy, Meredith’s chairman and CEO, in a news release. “We are adding the rich content-creation capabilities of some of the media industry's strongest national brands to a powerful local television business that is generating record earnings, offering advertisers and marketers unparalleled reach to American adults.” 

According to Meredith, the acquisition will create a diversified media and marketing company with calendar 2016 combined revenues of $4.8 billion. 

Meredith, a longstanding Cooley client that trades on the NYSE as “MDP,” has been committed to service journalism for 115 years. Today, Meredith uses multiple distribution platforms – including broadcast television, print, digital, mobile and video – to provide consumers with content they desire and to deliver the messages of its advertising and marketing partners. 

About Cooley LLP

Clients partner with Cooley on transformative deals, complex IP and regulatory matters, and high-stakes litigation, where innovation meets the law. 

Cooley has 900 lawyers across 12 offices in the United States, China and Europe.

Related Contacts
Kevin Mills  Senior Counsel Washington, DC
Aaron Binstock  Partner Washington, DC
Michael Tollini  Partner Washington, DC, New York
Howard Morse  Partner Washington, DC
Michael Basile  Partner Washington, DC