A portfolio review found that Time, Sports Illustrated, Fortune and Money are not a natural fit with the Des Moines-based media company’s existing stable of titles.
The $2.8 billion deal gives Midwesterner Meredith some New York flair.
The tag line is “Magazine Media. Better. Believe It.”
Hearst is said to have outbid Meredith Corp.
“It will continue to evolve, as magazines always do. But I think it’s a nice fresh start for us.”