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Tonight, the Koch brothers invested $650 million so the Meredith Corporation could buy Time Inc. – which, in further to its flagship magazine, Time, also publishes People, Fortune, and Sports Illustrated.
In announcing the deal, Meredith pronounced that the Koch’s would “have no change on Meredith’s editorial or managerial operations.”
Rubbish. The Koch Brothers don’t deposit $650 million for nothing. My theory is they intend to use Time and its other publications — which strech millions of online and imitation readers — to promote their worried conservatism. The investment also gives them a way to mix their cashe of voter information held by a information analytics company tranquil by their network, i360, with the publishers’ consumer data.
Is it wholly coincidental that Trump tweeted Friday that he incited down a intensity offer to be Time Magazine’s desired “Person of the Year” after, Trump says, the repository told him he would “probably” be given the honors? (Time denied it had done any such overture.)
For years, Trump has spooky about Time, even making feign covers to hang in some of his properties. Now the Kochs can make Trump “Person of the Century.”
What do you think?
Robert B. Reich has served in 3 inhabitant administrations, many recently as secretary of labor under President Bill Clinton. His latest book is “Saving Capitalism: For the Many, Not the Few.” His website is www.robertreich.org.