Shearman & Sterling advised Morgan Stanley & Co. and Bank of America Merrill Lynch in their role as financial advisers to Time Inc on its $2.8 billion sale to The Meredith Corporation. The all-cash transaction was unanimously approved by the companies’ boards of directors and will close early next year.

The Shearman & Sterling team includes partners Robert Katz, Robert Masella (both New York-Mergers & Acquisitions) and Alan Goudiss (New York-Litigation); counsel Sean Skiffington (Toronto-Mergers & Acquisitions); and associate Christopher Glenn (New York-Mergers & Acquisitions).