- A group led by Edgar Bronfman Jr. along with Meredith Corp. (NYSE:MDP) has signed a nondisclosure deal with Time Inc. (TIME), The Wall Street Journal reports -- suggesting talks to acquire or merge with the veteran publisher are in advanced stages.
- TIME has jumped 3.5% after hours on the news. Other companies have nondisclosure agreements with Time as well, WSJ says.
- Bronfman's group had made overtures in the range of $18/share or more late in the fall (TIME closed today at $18.65), and Time chief Rich Battista's holiday memo told the staff not to be surprised by lots of M&A talk ahead.
- Meanwhile, Time shares moved ahead in early January as publisher Meredith got into the merger mix.