Meredith currently has 4 former Time Inc brands up for sale. Time, Fortune, Money and Sports Illustrated. Meredith will no doubt bank millions for each of the titles but the golden egg of the four is Sports Illustrated. According to the NY Post, Meredith is hoping to bank a cool $150 million or more for Sports Illustrated alone while the other three, Time, Fortune and Money could be sold off in a bundle deal for $100 million. Rumored Interested parties in these titles range from former Time Inc boss Joe Ripp to current takeover king Jay Penske. Mr. Penske who’s Penske Media Corporation (PMC) recently took in a more than $200 million investment is said to be eyeing Sports Illustrated. PMC recently acquired Rolling Stone magazine. Mr. Ripp who is reportedly interested in Fortune may have some competition from billionaire Joe Mansueto who currently owns Fast Company and Inc. Of the four titles Fortune is the most profitable thanks to its conferences and its Fortune 500 annual listing. So in all, Meredith is hoping to get more than $350 million for these brands but some believe it will be tough for the media giant to get a offers close to those figures.
“They can ask those prices, but is it realistic? I think it will be a busted auction, unless some billionaire comes out of nowhere.”
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