Meredith (MDP) and an investor group led by Edgar Bronfman Jr. have advanced in their pursuit of Time as the publisher explores a possible sale, according to people familiar with the situation. – Wall Street Journal
March 1, 2017: Time (TIME) asked potential suitors to submit acquisition offers by next week, according to people familiar with the matter. Time’s board of directors wants details on how possible buyers value the company so it can determine whether to pursue a sale of the entire business or individual magazine titles. The company may also choose not to proceed with a sale at all. Five companies have expressed interest in acquiring all of Time. Two of the potential buyers are Meredith Corp. and an investor group led by Edgar Bronfman Jr.
March 7, 2017: Time (TIME) board of directors is discussing acquisition offers from potential suitors Tuesday as the magazine publisher weighs the future of its iconic brands, according to a person familiar with the matter.
March 9, 2017: A group that includes Jahm Najafi, chief executive of private investment firm Najafi, and private-equity firm Pamplona Capital Management has emerged as a bidder for Time (TIME), according to people familiar with the matter.
April 12, 2017: U.S. media group Meredith Corp (MDP) has made a preliminary acquisition offer to Time Inc (TIME) that fell short of the price expectations of the publisher of Sports Illustrated and Fortune magazines, according to people familiar with the matter.
April 28, 2017: The Board of Directors of Time (TIME), consistent with its duties, evaluated a number of expressions of interest with the assistance of external advisors. Following that review, the Board has determined that the Company will continue to pursue its strategic plan.