Wed, Aug. 12, 4:36 PM
Thu, Jul. 30, 8:09 AM
Mon, Jul. 13, 8:24 AM
- Meredith Corp. (NYSE:MDP) has acquired Grocery Server, a platform that will allow it to expand digital shopper marketing ability as grocery shoppers increasingly use mobiles in their decision process.
- The company began integrating Grocery Server in April 2014 and has already used the platform on campaigns for brands including Target, Unilever and Del Monte. It can suggest related products if a customer is searching recipes on Allrecipes.com, for example.
- Grocery Server co-founders Corbin DeRubertis and Kevin Thomas will oversee shopper marketing at Meredith.
Fri, Jun. 26, 2:28 PM
- Following news that Martha Stewart Living Omnimedia (MSO +0.5%) may be listening to five bidders for the company, activist shareholder Plymouth Lane Capital management disclosed a 10.9% stake in the company and that it would encourage a "timely, proactive and robust marketing process" in order to gather acquisition offers during the go-shop period.
- MSO stock is trading today at $6.42, above the $6.15/share offer from Sequential Brands (SQBG -0.3%).
- The go-shop period was reportedly added to the two companies' agreement after Sequential CEO Yehuda Shmidman leaked deal details early. Now interest is reported from competing bidders, including Iconix (NASDAQ:ICON), Meredith (NYSE:MDP), Global Brands and Authentic Brands.
- MSO chief Martha Setewart owns nearly 49% of the company's class A shares.
- Schedule 13-D
Thu, Jun. 25, 8:42 PM
- Shares in Martha Stewart Living Omnimedia (NYSE:MSO) rose 3.9% today, and another 0.5% after hours, as the prospect of more (maybe several more) bidders for the company emerged today.
- Sequential Brands (SQBG -1.5%) on Monday said it had agreed to acquire MSO for $6.15 a share (about $353M), in a done deal. But The New York Post reported that bidding has reopened for "at least five prospective bidders" as Sequential's CEO Yehuda Shmidman was said to have leaked deal details early.
- That meant having to include a 30-day "go-shop" provision -- and now bidders may include Meredith (NYSE:MDP), which already has licensing for the Martha Stewart magazines; licensing group Iconix (NASDAQ:ICON); Global Brands; and Authentic Brands.
- Sequential's board is reportedly "very disappointed that this occurred and wants to understand how this happened."
- Martha Stewart shares were last quoted at $6.43 after hours, a 4.6% premium to Sequential's offer.
Wed, Jun. 3, 7:05 PM
- Meredith Corp. (NYSE:MDP) is replacing a 30-year company veteran, as Better Homes and Gardens chief editor Gayle Butler retires.
- Butler led the magazine -- one of the country's most widely read, with 7.6M readers -- through a growing scope and expansions into digital, mobile and social platforms. She's directed editorial content for the brand since 2006.
- Stephen Orr -- executive editor at Conde Nast Traveler -- takes over for Butler on July 6. He was also previously editorial director for Martha Stewart Living.
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
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