Time Inc. is being sold for $2.8 billion to media conglomerate Meredith Corporation

Time Inc. is being sold for $2.8 billion to media conglomerate Meredith Corporation, backed by the billionaire Koch brothers known for supporting conservative causes, in an unlikely ending to a saga over the future of CNN’s parent company. Time, which also publishes its eponymous magazine, Fortune, and Sports Illustrated, began looking for a buyer late last…