Magazines. Meredith’s second round auction for the sale of Sports Illustrated, Time, Fortune and Money draws to a close next week. Ari Emanuel’s William Morris Endeavor is said to be in the running to buy Sports Illustrated which (unlike the other Time Inc legends) is said to have made profits of some $13m last year. Meredith was once said to be looking for up to $200m for each of the magazines but is getting real now that due diligence is underway. Investment banker Michael Loeb is said to be looking at Fortune and Money – he is the son of the legendary magazine editor Marshall Loeb, who previously edited both of them. Other names in the frame include: Jay Penske at Penske Media, Jimmy Finkelstein, owner of The Hill, and Liam Lynch, of venture capital firm Studio VC. Is there a chance of a wild card bid for Time magazine, the ultimate media trophy? Jeff Bezos, Laurene Powell Jobs, and Warren Buffet, are you there?
Time for a surprise bid?
