Time Inc UK sold to private equity

US media company Meredith Corporation, which acquired Time Inc UK in January 2018 as part of its acquisition of owner Time Inc, announced it has entered into a binding agreement to sell the company to Epiris.

Time Inc had been in the process of selling its UK arm prior to the acquisition by Meredith.

Founded in 1968, Time Inc UK’s publishing company’s portfolio includes over 50 brands.

According to a report in the Guardian, Epiris is expected to explore the sale of a number of titles, make cuts to Time Inc’s workforce and look to make further acquisitions in UK publishing.

The transaction is expected to close by the end of the first quarter of 2018. Barou Advisers and Herbert Smith Freehills LLP are advising Meredith on the deal.