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Meredith Corporation (MDP)

- NYSE
  • Tue, Jan. 6, 12:32 PM
    • Meredith (MDP -2.6%) announces it acquired Selectable Media for an undisclosed amount,
    • Selectable Media provides cross-platform ad products for consumer-facing firms.
    • The company says the add-on will not have a material impact on FY15 results.
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  • 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
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  • Jun. 21, 2013, 4:49 AM
    Tribune 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.
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  • Feb. 14, 2013, 5:58 AM
    Meredith (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)
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  • Jan. 24, 2012, 10:00 AM
    Magazine 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.
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  • Jan. 4, 2012, 1:28 PM
    Meredith 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.
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Company Description
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.