Wed, May 13, 4:40 PM
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
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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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