Meredith is reportedly among the companies that have contacted Time Inc. regarding a potential merger with the publisher.
According to Bloomberg, official talks have yet to take place and Time’s board plans to meet later this month to discuss future options, which include continuing on as an independent company.
Meredith, in addition to being a broadcast group with 14 stations reaching 12 million homes in the U.S., is a magazine publisher that produces titles including Parents and Better Homes and Gardens.
For Meredith, a tie-in with Time would boost its publishing portfolio considerably and place its brands among popular Time publications including Sports Illustrated and Entertainment Weekly. It would also represent a different tack than Meredith’s previously attempted merger with Media General, which would have gained both companies a lot of scale in broadcasting.
Meredith’s deal with Media General fell through after Nexstar came in with a competing offer for Media General.
For Time Inc., a possible merger with Meredith or another company is being considered more than two years after the publisher was spun off by Time Warner Inc. Time Warner spun off Time, as well as AOL and Time Warner Cable, in order to better focus on its TV and film content businesses.
As the report points out, Meredith and Time reportedly were in talks before the spinoff for a deal that would have put many of Time’s publications under Meredith’s control.
News of Meredith’s possibly renewed interest in Time Inc. comes after the New York Post said late last year that the broadcaster was considering bidding against Edgar Bronfman Jr., Len Blavatnik and Ynon Kreiz for Time Inc. The three billionaire had reportedly bid nearly $1.8 billion for Time Inc.