EXCLUSIVE-Meredith nears deal to acquire magazine publisher Time -sources

Nov 26 (Reuters) - U.S. media group Meredith Corp is nearing a deal to acquire Time Inc, the U.S. publisher of Sports Illustrated and Fortune magazines, for about $2 billion, people familiar with the matter said on Sunday.

Meredith, whose bid for Time is backed by an affiliate of billionaire brothers Charles and David Koch, may announce an agreement as early as this week, the sources said.

The sources, who requested anonymity because the matter is confidential, cautioned that the talks could collapse at the last minute without a deal. Meredith and Time did not immediately respond to requests for comment. (Reporting by Liana B. Baker and Greg Roumeliotis in New York; Editing by Lisa Von Ahn)