Time Inc.'s stock price jumped 24 percent to over $15.60 a share in midday trading, following a report on Wednesday night that the company is in talks to sell itself to Meredith Corp.in a deal backed by Charles and David Koch.
Talks failed earlier this year when Meredith couldn't secure necessary financing, a problem solved by the Koch's infusion of the $500 million, possibly signaling the conservatives' desire to get back into the media business, The Times reported.
Representatives from both Meredith and Time Inc. declined to comment.
Reward in Seminole Heights serial killer case increases to $100000
The killer might also be linked to two other deaths - Monica Hoffa, 32, on October 11 and Anthony Naiboa , 20, on October 19. The brief bit of new surveillance video released Tuesday shows a person walking, but the surrounding area is shaded out.
The shift in consumer attention to the internet has hit magazine publishers.
Time, which also publishes People and Sports Illustrated, and Meredith, which publishes Family Circle and Better Homes and Gardens, have been in on-and-off negotiations since 2013.
T-Mobile US shares rose after Reuters reported that the carrier will roll out its fifth-generation network across the U.S.by 2020 and propose a "significant" share buyback.
New earth-like planet found 11 light years from our solar system
Astronomers have discovered a world 11 light-years away that may have a surface temperature similar to Earth's. Ross 128 b is 20 times closer to its star than Earth, taking a mere 9.9 days to complete one orbit.
The Wall Street Journal reported Thursday that Meredith had submitted a bid of $17 to $20 per share, which would value Time at nearly $2 billion. Meredith was valued at $2.42 billion.
Des Moines-based Meredith also owns 17 television stations, according to USA Today.
Watch Bungie reveal Destiny 2's first expansion here
Players will be guided through the new story by Osiris' Ghost, Sagira as they seek to reestablish a connection with this Warlock. The Raid Lair will be shorter than the original raid which may be useful for those who can not spend consecutive hours playing.