Thu, Apr. 23, 9:43 AM
- Meredith Corp. (NYSE:MDP) is up 2.1% as it posted record revenues in fiscal Q3 that still missed expectations slightly. Earnings per share beat expectations though EBITDA came in at $61.7M, below an expected $69.4M.
- Revenue breakout: Advertising, $206M (up 13.1%); Circulation, $96M (flat); Other, $96.1M (up 7.8%).
- By operating group: National Media, $275.3M (up 2%), driven by integration of Shape brand and the Martha Stewart properties; Local Media, $122.9M (up 25.7%), driven by added TV stations in St. Louis, Phoenix, Mobile-Pensacola and Springfield, Mass.
- Digital ad revenues grew more than 55%. Traffic to digital/mobile sites is now about 70M unique visitors/month.
- Conference call at 11 a.m. ET.
- Press release
Thu, Apr. 23, 8:08 AM
Wed, Apr. 22, 5:30 PM
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Thu, Apr. 9, 12:19 PM
- A new set of carriage agreements with affiliates means that the CBS streaming service CBS All Access will reach 55% of U.S. households.
- CBS announced deals with a number of local station groups, including Gray (NYSE:GTN), Meredith (NYSE:MDP), Nexstar (NASDAQ:NXST), Raycom, Graham Media and others, and the broadcaster says more deals are on the way.
- Markets added include Atlanta, Phoenix, St. Louis, Kansas City and Las Vegas.
- Last month CEO Les Moonves said the $5.99/month service had 100K subscribers, largely on the back of the company's owned-and-operated stations in major markets.
- Previously: CBS affiliates reportedly can earn $1/subscriber on streaming (Mar. 16 2015)
- Previously: CBS, affiliates agree on terms around streaming service (Mar. 13 2015)
Mon, Mar. 30, 3:36 PM
- Consumer media group Meredith Corp. (MDP +0.9%) says Kim Martin will be its new chief strategy officer effective April 13.
- Formerly president and GM of AMC Networks' WEtv, Martin also has a background with Rainbow Media and Discovery Networks.
- The move is likely to bring attention to Meredith's video content roadmap. Aside from its well-known print brands, Meredith has 17 owned or operator TV stations in its Local Media Group, serving 11% of U.S. households.
- Previously: Meredith earnings up 45%; acquisitions continue (Jan. 28 2015)
Tue, Feb. 3, 11:10 PM
Wed, Jan. 28, 9:39 AM
- Meredith Corp. (NYSE:MDP) EPS rose 45% in Q2 on strong operating margin of 20% (up five percentage points).
- Breakdowns: Local Media Group revenues of $157M (up 50%), operating profit of $60M (up 64%); National Media Group revenues of $242M, operating profit of $30M (up 7%).
- Total digital ad revenues up 45%.
- The acquisition of Shape magazine continues Meredith's recent string of takeovers (including two TV stations, licensing Martha Stewart Living and Martha Stewart Weddings, and acquiring MyWedding.com and Selectable Media).
- "Advertising trends strengthened ... our recent acquisitions are performing above expectations," says CEO Stephen Lacy.
- First-half 2015 EPS is up 35% Y/Y to $1.65, excluding special charges.
- Q2 results
- Shares up 1.4%
- Previously: Meredith to take over Shape magazine (Jan. 28 2015)
Wed, Jan. 28, 9:23 AM
- Publisher Meredith Corp. (NYSE:MDP) has agreed to acquire popular fitness title Shape magazine (along with digital brands Shape, Natural Health and Fit Pregnancy) from American Media.
- Terms weren't disclosed, but the deal is accretive to fiscal 2015.
- The print magazine will combine with existing title Fitness and join More, Eating Well, EveryDay with Rachael Ray and others in Meredith's Women's Lifestyle Group.
- Shape's new rate base will rise 60% to 2.5M.
Wed, Jan. 28, 9:17 AM
Tue, Jan. 27, 5:30 PM| 1 Comment
Thu, Jan. 8, 6:24 AM
Tue, Jan. 6, 12:32 PM
Nov. 12, 2014, 5:21 PM
Oct. 23, 2014, 8:09 AM
Oct. 22, 2014, 5:30 PM
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Oct. 15, 2014, 5:54 PM
- Magazine publisher/TV network owner Meredith (NYSE:MDP) will "assume ad sales, circulation, and production of Martha Stewart Living (NYSE:MSO) and Martha Stewart Weddings magazines," under a 10-year deal.
- Meredith will also handle sales/marketing for MSO's sites and video library. However, MSO's editorial team will "continue to create all content for print and digital properties."
- The companies assert the deal will enable Meredith to "market [Martha Stewart's] magazines and digital assets alongside Meredith's own leading brands." MSO expects the agreement will increase its op. income "by as much as $10-$15 million annually." A $2M-$3M Q4 restructuring charge will be recorded.
MDP vs. ETF Alternatives
Meredith Corp engages in magazine publishing and related brand licensing, television broadcasting, integrated marketing, interactive media, and video production related operations. It operates two business segments: local media and national media.
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