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NEW YORK (Reuters Breakingviews) - Time beat the clock. After rejecting at least two earlier entreaties  the publisher of Fortune  Sports Illustrated and other magazines agreed to be acquired by rival Meredith for $1.8 billion  which includes a hefty 46 percent premium. It’s a lucky break because a go-it-alone strategy looked doomed. Bountiful cost savings  however  will go to the buyer and its new billionaire backers.
Fortunately for Time shareholders  Meredith has been a persistent suitor. After failed merger efforts over the last few years  the $18.50-a-share all-cash offer provides nearly $600 million more than the target’s market value when deal talks surfaced on Nov. 16.
The presence of Charles and David Koch  whose private equity fund is kicking in preferred equity to help pay for the acquisition  may create concern for some readers because of the brothers’ history of supporting conservative causes. They aren’t getting a board seat  though. The investment  which resembles  one Mexican billionaire Carlos Slim made in the New York Times   also includes a solid financial rationale.
 Meredith  is touting between $400 million and $500 million of cost savings within two years of the companies uniting. Once taxed and capitalized  at the low end of that range they would be worth some $2.4 billion today – on a $2.8 billion deal  including debt. If nothing else  that should buy  Meredith  and the Kochs some time.
Meredith

Story highlights  Kim  raises possibility of North Korean athletes in Winter Olympics in South Korea
(CNN)  North Korean leader Kim Jong Un  has warned the United States that  his  country's nuclear capabilities are now complete and the nuclear launch button is always on  his  desk.
"The entire mainland of the US is within the range of our nuclear weapons and the nuclear button is always on the desk of my office. They should accurately be aware that this is not a threat but a reality " said  Kim  during  his  annual New Year's Day address  according to a CNN translation of the speech.
"No matter how much America wants to attack us with their military might and nuclear power  they know that now we possess such great nuclear power and therefore they will not dare "  Kim  said  adding that  his  country's greatest achievement of 2017 was the "historic accomplishment of completing our nuclear capabilities."
Since coming to power   Kim  has overseen a dramatic increase in the pace of North Korea's missile program. As of February last year  Pyongyang has fired off 23 missiles  improving its technology with each launch. In September  the regime carried out its sixth and most powerful nuclear test.
Euan Graham  director of the International Security Program at the Lowy Institute  told CNN that  Kim 's nuclear button comment is "effectively just noise."
Kim Jong Un

Former President George W. Bush and U2 frontman Bono first teamed up during Bush 's first term to bring awareness to the AIDS epidemic in Africa . 
In 2003 , Bush was able to implement the U.S. President 's Emergency Plan for AIDS Relief . 
Bush is now returning the thanks . 
The 43rd president announced on social media Monday that he is honoring Bono with the George W. Bush Presidential Center 's inaugural Medal for Distinguished Leadership . 
A post shared by George W. Bush -LRB- @georgewbush -RRB- on Sep 15 , 2017 at 10:12 am PDT . 
He uses his celebrity not for personal gain , but to improve and save lives ," Bush said .

George W Bush