Washington, DC – October 2, 2018 – Cooley advised Meredith on its agreement to sell the Time media brand to Marc and Lynne Benioff for $190 million. Lawyers Kevin Mills and Aaron Binstock led the Cooley team advising Meredith.
“We're pleased to have found such passionate buyers in Marc and Lynne Benioff for the Time brand,” Meredith president and CEO Tom Harty said in a news release. “For over 90 years, Time has been at the forefront of the most significant events and impactful stories that shape our global conversation. We know Time will continue to succeed and is in good hands with the Benioffs.”
Cooley previously advised Meredith on its acquisition of the Time brand as part of its purchase of Time Inc. Shortly after that deal closed in January, Meredith announced that it intended to sell Time Inc.'s news and sports brands – Time, Sports Illustrated, Fortune and Money – to focus on those serving its core audience of American women.
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