Meredith plans to buy Time Inc for $1.8B
Meredith plans to buy Time Inc for $1.8B
new york
Meredith Corp. says it is buying Time Inc. for about $1.8 billion in a deal that joins two giant magazine companies.
Meredith will pay $18.50 per share in cash and tack on about $1 billion in debt.
Meredith brings with it a magazine portfolio that includes Better Homes & Gardens, Family Circle, allrecipes and Shape, while Time Inc. owns properties including Time, Sports Illustrated, People, Fortune and Entertainment Weekly.
The companies said the deal was unanimously approved by their boards of directors and will close early next year.
Combined, the companies posted $4.8 billion in revenue last year.
NY mall evacuated after gun discharges
MIDDLETOWN, N.Y.
A crowded mall in New York’s Hudson Valley was evacuated Sunday after a gun discharged into the floor, causing minor injuries to two bystanders, police said.
The gun went off shortly after 3 p.m. at the Galleria at Crystal Run in Middletown, about 70 miles north of midtown Manhattan.
Chief Robert Hertman of the Wallkill Police Department said police were still seeking the man whose gun went off. He said police do not know if the discharge was accidental.
At least 23 killed in Syria ahead of talks
BEIRUT
Government airstrikes and shelling outside the Syrian capital killed at least 23 civilians, activists reported Sunday, as fighting in the area showed no signs of letting up ahead of the resumption of U.N. peace talks in Geneva.
The government’s jets and artillery launched a wave of attacks on residential areas in the Eastern Ghouta suburbs of Damascus, said the Britain-based Syrian Observatory for Human Rights monitoring group, which reported that 25 people had been killed.
Also Sunday, at least 10 people were killed in an airstrike on an Islamic State-held village in eastern Syria, the activist-run DeirEzzor 24 group reported.
Iran videos target 2 accused of espionage
DUBAI, United Arab Emirates
Iranian state television aired videos Sunday targeting a Briton and an American serving time on espionage charges, likely trying to pressure the U.S. and Britain as London considers making a $530 million payment to Tehran.
The case of Iranian-British national Nazanin Zaghari-Ratcliffe has gained momentum in recent weeks as British Foreign Minister Boris Johnson faces tremendous criticism at home over his handling of it.
Meanwhile, state television aired footage of an emotional Chinese-American national Xiyue Wang as U.S. President Donald Trump continues his hard line against Tehran and its nuclear deal with world powers.
Authorities raise alert about volcano
KARANGASEM, Indonesia
Indonesian authorities raised the alert for a rumbling volcano to the highest level today and closed the international airport on the tourist island of Bali, stranding thousands of travelers.
Mount Agung has been hurling ash thousands of meters into the atmosphere since Saturday, which had already forced the small international airport on the neighboring island of Lombok to close as the plumes drifted east.
The National Disaster Mitigation Agency said Bali’s international airport, where most flights had been continuing, was closed for 24 hours. It said authorities would consider reopening it Tuesday after evaluating the situation.
Associated Press