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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

Staffer Daniel Ellsberg (Matthew Rhys) registers this disconnect  and leaks a top-secret government report on the war to the New York Times. And whenever the Times gets a scoop   Washington Post editor Ben Bradlee (Tom Hanks)  gets riled.
 Bradlee 's ambitions were not modest  however.  He  just needed time. And now  suddenly  when the Post also got their own copy of the report   he  had it.
The film isn't Spielberg's subtlest  but it has some nicely subtle touches  like when  his  long-lens camera peers through White House windows to catch glimpses of a president and  his  henchmen; we hear their actual voices from tapes Nixon was forced to give up  years later.
Tom Hanks makes for a blustery  Ben Bradlee   and Meryl Streep plays Kay Graham as hesitant but steely  seemingly the only woman in the corridors of power â and ironically  the one with the power to defend the First Amendment.  Bradlee  can talk principle all  he  wants â and  he  does here  often â but only Graham can publish.
MONDELLO: Staffer Daniel Ellsberg registers how this doesn't jibe with what McNamara was saying on the plane or with a secret government report he has access to. When he leaks that report  The New York Times gets a huge scoop  and  Washington Post editor Ben Bradlee...
TOM HANKS: (As  Ben Bradlee ) Is anybody else tired of reading the news instead of reporting it?
HANKS: (As  Ben Bradlee ) We are sucking hind tit in our own backyard.
HANKS: (As  Ben Bradlee ) No  it's 7 000 pages detailing how the White House has been lying about the Vietnam war for 30 years. It's Truman and Eisenhower and Jack. LBJ lying - lying about Vietnam. And you think that's one story. Let's do our jobs. Find those pages.
MONDELLO:  Bradlee 's ambitions were not modest  however.  He  just needed time  and suddenly  he  had it.
HANKS: (As Ben Bradlee) I'd give my left one to be in this mess.
HANKS: (As  Ben Bradlee ) Whoa.
MONDELLO: Put to the torch - a phrase you don't hear much today in a film where the clatter of typewriters competes with the whoosh of pages sent by pneumatic tube to a press room where molten lead turns them into lines of type. And running the show - Tom Hanks as a blustery  Ben Bradlee  and Meryl Streep...
MONDELLO: ...As a hesitant but steely Katharine Graham  seemingly the only woman in the corridors of power and  ironically  the one with the power to defend the First Amendment.  Bradlee  can talk principle all  he  wants.
HANKS: (As  Ben Bradlee)  If we don't hold them accountable  I mean  my God  who will?
Ben Bradlee

âWeâre expecting some pretty significant property damage â  California Growers Association Executive Director Hezekiah Allen  told Chron. âAs damage numbers emerge  itâs going to be pretty stunning on all fronts  and certainly our membership has been directly impacted.â
Reached via phone   Allen  said that a number of  his  members have lost homes and their farms to the fire already  others were not so optimistic about returning after evacuating.
"We've got a few other folks that said they would be shocked if it were still there when they got home "  Allen  said.
"What do you do when you lose your business to a fire? We can't get insurance or aid from FEMA â we don't have access to those programs  we can't get loans  " Allen  said.
While pot is technically legal in the state of California  purchasing it for recreational purposes is not quite there yet. The state has until January to set up its regulations  which could mean that there may be a potential shortage of regulated pot to hit store shelves when the time comes.  Allen  is confident there will still be some weed when recreational dispensaries open  however.
"There won't be a shortage of crop. Whether or not theres a shortage of licensed  regulated crop â it's tough to say " said  Allen .
 Allen  says the CGA and  its  community members plan to set up a crowdfunding effort in the wake of the fires  which is one of their only options considering they can't get relief from federal programs. Hell  cannabis businesses still can't even open up a bank account  leaving growers with very limited choices on how they can recuperate their losses from this natural disaster.

Hezekiah Allen