Meredith Contacts Time to Express Interest in Merger
Other strategic companies and privately held businesses have also been in touch with Time about a possible deal, one of the people said. No talks have yet been held with interested parties, the person said. Time shares climbed as much as 11 percent in New York. As of 3:28 p.m., they rose 3.5 percent, valuing the company at about $1.9 billion.
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.