Back in April Time Inc decided not to sell and move forward as an independent company. But that hasn’t stopped individuals with the means to purchase the company from wanting it. American Media Inc CEO David Pecker who was missing from the bidding process when Time was entertaining a sale, is said to be looking into a possible bid for the publisher. Now comes word that another individual with really deep pockets may be making a play for the company. Robert Mercer who controls Renaissance Technologies and is a major Backer of Breitbart News is said to be eyeing a run at the publisher of Time, People, Sports Illustrated, Instyle and Fortune to name a few. Mercer already owns about 2.5 million shares of Time stock which he scooped up earlier this year giving him a 2.5 percent stake in the company.
Mercer, a major Trump booster eyeing Time Inc may not be a coincidence. Perhaps he and David Pecker, another Trump booster will team up to make a run at the company. Perhaps he is the deep pocketed individual Mr. Pecker needs to make a bid the board of Time Inc won’t be able to refuse. The only thing that would probably cause pause on the Time Inc side, is Pecker’s habit of using his publications to boost his friends and take down his enemies among many other things. Mr. Mercer’s backing of Breitbart News which was in hot water before and during the presidential campaign could also be an issue for many of Time’s board members and shareholders.
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