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.
Tue, Jan. 6, 12:32 PM
Dec. 23, 2013, 10:13 AM
- Gannett (GCI +2.1%) sells St. Louis's KMOV-TV and Phoenix's KTVK-TV and KASW-TV to Meredith (MDP +0.9%) for $407.5M in cash. The first station was a part of Gannett's Belo acquisition, its divestment a condition of Gannett's agreement with the DoJ.
- The divestment is expected to have an impact of less than $2M to Gannett's 3-year Belo synergy target of $175M.
- Meredith expects the stations to generate revenue of $105M-$115M and be accretive to run-rate EPS by $0.16-$0.18.
- Gannett PR, Meredith PR
Jun. 21, 2013, 4:49 AMTribune Co. (TRBMF.PK), Meredith (MDP), Sinclair Broadcast Group (SBGI) and Nexstar Broadcasting Group (NXST) are among those expected to bid for some or all of Local TV's 19 television stations, which are forecast to attract $2-2.5B in an auction. The final offers are due in today. The sale is the latest in a series of transactions involving TV broadcasters in the wake of rising fees, with Gannet last week agreeing to acquire Belo for $1.5B plus debt. | Jun. 21, 2013, 4:49 AM | Comment!
Feb. 14, 2013, 5:58 AMMeredith (MDP) is reportedly the potential acquirer of the bulk of Time Warner's (TWX) 21 magazine titles, including People and Entertainment Weekly. Alternatively, because Meredith couldn't afford a speculated price of $2.4-2.9B for Time Inc., the publications of both would be placed in a new company in which Time Warner shareholders would own 2/3 and Meredith investors the rest. (previous) | Feb. 14, 2013, 5:58 AM | Comment!
Jan. 24, 2012, 10:00 AMMagazine publisher/TV network owner Meredith (MDP -1.9%) is acquiring Allrecipes.com, which it calls "the world's No. 1 digital food site," for $175M. Meredith expects the deal to dilute its FY12 (ends in June) EPS by $0.10, but to be "modestly accretive" to FY13 EPS. Separately, Meredith reported FQ2 revenue of $328.7M (-10% Y/Y) and EPS of $0.70; the former missed by $13.5M, but the latter beat by $0.03. | Jan. 24, 2012, 10:00 AM | Comment!
Jan. 4, 2012, 1:28 PMMeredith Corp. (MDP -2%) deepens its foray into the women-focused media space by acquiring FamilyFun magazine and related assets from Walt Disney Co.'s (DIS) publishing arm for an undisclosed sum. The magazine, which has an audience of about 6M, targets mothers with children ages 3 to 12 and focuses on family activities, such as cooking, crafts and travel. | Jan. 4, 2012, 1:28 PM | Comment!
MDP vs. ETF Alternatives
Other News & PR