Meredith Corp. has reportedly reached out to Time Inc. about a possible merger between the two media companies, with Bloomberg noting that the gesture rekindles the prospect of a combination that almost took place in 2013.
Time and Meredith weren’t commenting, but Bloomberg cites sources who are familiar with the situation.
“Other strategic companies and privately held businesses have also been in touch with Time about a possible deal, one of the people said,” Bloomberg notes. “No talks have yet been held with interested parties, the person said.”
Bloomberg adds: “Time’s board is expected to meet later this month to discuss its options, which include pushing forward as an independent company, the people said, asking not to be identified as the details aren’t public.”
Bloomberg also notes: “Meredith’s interest in Time would pose a challenge to Edgar Bronfman Jr. and Ynon Kreiz, who remain interested in the iconic magazine publisher despite having their offer of about $2 billion spurned late last year, the people said.”