Meredith to buy Time for $2.8 billion

Meredith will pay $18.50 per share for publisher of Fortune and Time

TIME sold to Meredith for $2.8 B

Meredith Corp.  (MDP) said it will acquire Time Inc.  (TIME) in a deal valued at $2.8 billion, a further sign of consolidation in the print magazine industry.  Meredith has agreed to pay $18.50 a share for the publishing company that owns magazines  such as Time, Fortune and Sports Illustrated.

The deal includes $1.85 billion in cash and the assumption of debt. It had been approved by both firms’ boards of directors and is expected to close in the first quarter in 2018.

The transaction received financial backing from the billionaire Koch brothers. Meredith said it secured $650 million from Koch Equity Development, the investment arm of Koch Industries, but the publisher said Koch Equity Development would not have a seat on the Meredith board and “will have no influence on Meredith’s editorial or managerial operations.”

Meredith Corporation is the owner of Family Circle, Better Homes and Gardens and AllRecipes, and is based in Des Moines Iowa.  The company also owns local television stations — that has allowed Meredith to better weather the economic storm that has faced print publishers.

A deal between Meredith and Time Inc. fell apart in 2013 after Meredith reportedly said that it did not want to acquire some of Time Inc.’s best-known titles, including Time, Fortune and Sports Illustrated. Meredith also expressed interest in buying Time Inc. earlier this year before it walked away — in part because it could not secure sufficient financing. The Kochs helped the company overcome that problem.

MDP closed at $61.00. TIME closed at $16.90.


STOCKWINNERS

To read timely stories similar to this, along with money making trade ideas, sign up for a membership to Stockwinners

This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility.

Nvidia’s AI to be used by GE Healthcare

GE, Nvidia join forces to accelerate AI adoption in healthcare

Nvidia pullback after Q2 beat a buying opportunity. See Stockwinners.com Market Radar for more
Nvidia’s AI chips to be used by GE Healthcare

GE Healthcare (GE) and Nvidia (NVDA) announced they will deepen their 10-year partnership to bring the most sophisticated artificial intelligence to GE Healthcare’s 500,000 imaging devices globally and accelerate the speed at which healthcare data can be processed.

The scope of the partnership, detailed at the 103rd annual meeting of the Radiological Society of North America, includes the announcement of the new Nvidia-powered Revolution Frontier CT, advancements to the Vivid E95 4D Ultrasound and development of GE Healthcare’s Applied Intelligence analytics platform.

The new CT system in the Revolution Family is two times faster in imaging processing than its predecessor, due to its use of Nvidia’s AI computing platform.

The Revolution Frontier is FDA cleared and expected to deliver better clinical outcomes in liver lesion detection and kidney lesion characterization because of its speed – potentially reducing the need for unnecessary follow-ups, benefitting patients with compromised renal function and reducing non-interpretable scans with Gemstone Spectral Imaging Metal Artefact Reduction.

The new CT system in the Revolution Family is two times faster in imaging processing than its predecessor, due to its use of NVIDIA’s AI computing platform.

NVIDIA, which has helped pioneer the spread of AI across a growing range of fields, including self-driving cars, robotics and video analytics, is working with GE Healthcare to spread its application in healthcare.

GPU-accelerated deep learning solutions can be used to design more sophisticated neural networks for healthcare and medical applications—from real-time medical condition assessment to point-of-care interventions to predictive analytics for clinical decision-making.

For patients, the partnership aims to drive lower radiation doses, faster exam times and higher quality medical imaging.

NVDA closed at $216.96. GE closed at $18.19.


STOCKWINNERS

To read timely stories similar to this, along with money making trade ideas, sign up for a membership to Stockwinners

This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility.