27 Nov '17, 6pm

Climate-Denying Koch Brothers Back Purchase of Time Magazine

The media company Meredith announced Sunday night that it's buying Time magazine for an estimated $2.8 billion. "We are creating a premier media company serving nearly 200 million American consumers across industry-leading digital, television, print, video, mobile and social platforms positioned for growth," said Meredith Corporation Chairman and CEO Stephen Lacy. Buried deep in the press release was where a significant proportion of this money is coming from: "Meredith has also secured $650 million in preferred equity commitment from Koch Equity Development (KED)." And here's where the alarm bells should start ringing. The KED fund is run by the Koch Brothers , some of the biggest funders of groups promoting climate denial and libertarian causes for the last two decades. To try to assuage concerns, Meredith's board added the statement that the Koch brothers will not have ...

Full article: https://www.ecowatch.com/climate-denying-koch-brothers-ba...

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