Meredith Corporation is an American media conglomerate based in Des Moines, Iowa, USA. The company has two divisions: National Media and Local Media. In 2016, the company employs 12,600 people and has revenues of US $ 1.6 billion. By 2018, they are the largest magazine companies in the world (after the purchase of Time Inc).
Video Meredith Corporation
History
Edwin Thomas Meredith founded the company in 1902 when he began publishing Successful Farming magazine. In 1922, Meredith began publishing Fruit, Garden and Home magazines, a publication of home and family services. Two years later, the magazine was titled Better Homes and Gardens , and the first edition cost a dime at the newsstand. In 1930, they published the first edition of The Better Homes and Gardens Cook Book . By 1928, the company had combined a circulation of 2.5 million.
The company went public in 1946 and was first listed on the New York Stock Exchange in 1965. After the initial public offering, Meredith began acquiring a television station, a strategy that has continued for decades.
Recently, Meredith has introduced a range of women-oriented consumer brands and has expanded its reach, through acquisitions and strategic partnerships, to become a leading media and marketing company serving mature adult audiences in the United States. The company has expanded its media and marketing platforms worldwide, through acquisitions and strategic licensing relationships. In recent years, Meredith has acquired allrecipes.com from Reader's Digest Association, mywedding.com., Selected Media, and Shapes , Natural Health and Fit Pregnancy from American Media Inc.
In February 2013, Meredith and Time Warner held discussions about the possibility of purchasing Time Inc.; Time Warner finally chose to make it a separate company.
On September 8, 2015, Media General announced its intention to acquire Meredith in a $ 2.4 billion cash and stock transaction. After regulatory and shareholder approvals are pending, the deal is expected to be completed by June 2016. The joint venture will operate under the name Meredith Media General, and become the owner of the third largest television station in the United States - serving approximately 30% of households. To comply with FCC ownership limits, the company will divest and/or exchange stations in six markets. General Media shareholders will hold 65% of the company, with Meredith shareholders holding 35%. However, the offer was rewarded by Nexstar Broadcasting Group, which succeeded, a $ 4.6 billion bid to acquire Public Media instead.
In February 2017, it was reported that Meredith and a group of investors led by Edgar Bronfman Jr. is considering the possibility of another purchase from Time Inc. On November 26, 2017, it was announced that Meredith Corporation would acquire Time Inc. worth $ 2.8 billion. deal. The $ 640 million support is provided by Koch Equity Development, but the Koch family will not have a board seat or affect the company's operations.
On January 9, 2018, it was announced that Meredith will launch the Hungry Girl magazine on January 16th, evolving from an online brand.
Acquisition Time Inc. finished on January 31, 2018. In March 2018, just six weeks after the closing of the deal, Meredith announced that it would lay off 200 employees, up to 1,000 over the next 10 months, and explore sales of Fortune > Money , Sports Illustrated , and Time . Meredith feels that, regardless of their "strong consumer reach", these brands are not aligned with their core lifestyle property. Howard Milstein has announced on 7 February 2018 that he will acquire Meredith's Golf Magazine Meredith and Time Inc. UK sold to UK private equity group, Epiris.
Maps Meredith Corporation
Division
National media
Magazines
Meredith magazine includes the following brands:
Non-functional magazines include:
- More
- Readymade
- Sail
- Scrapbooks Dll.
Digital media
- Allrecipes.com
- mywedding.com
Local media
The broadcasting division has 15 television stations. Meredith's broadcasting division also produced Better , which was originally conceived as a brand extension BH & amp; G . Since the beginning of 2007, the show has increased emphasis on celebrity interviews and musical performances. There are also cooking demos and regular features on health, beauty, fitness, and fashion. The program is now aired on 80 national stations.
On December 23, 2013, Meredith announced plans to buy St. affiliates. Louis CBS KMOV and Phoenix independent station KTVK for $ 407.5 million in cash from Gannett Company and Sander Media, LLC to meet the federal mandate that Gannett sold KMOV. The purchase of KMOV was completed on February 28, 2014, while KTVK's sales were completed on June 19th.
Meredith has also reached an agreement to acquire ABC WGGB affiliate in Springfield, Massachusetts from Gormally Broadcasting for $ 53.8 million and Fox WALA affiliate at Mobile, Alabama from LIN Media for $ 86 million.
Stations are arranged alphabetically by country and city license.
Meredith's current station
note:
- 1 Between 2009 and 2017 Meredith operates WPCH through a local marketing agreement when it is owned by Turner Broadcasting System subsidiary Time Warner. On February 23, 2017, Meredith announced his intention to buy a station from Time Warner before joining AT & amp; T.
Meredith's former station
Note:
- ( ** ) WHEN-TV/WTVH is the only station built and signed by Meredith.
- 1 Owned by SagamoreHill Broadcasting, Meredith operates KASW under a shared service agreement.
- 2 WCPX was acquired along with KPDX and WHNS when Meredith bought their parent company First Media, but the station switched to Post-Newsweek Stations (former Graham Media Group name) for WFSB a day later. Meredith was never in control of the station.
- 3 Provided only for trading to the Tribune for WGCL.
Radio station
Business offers
Meredith Corporation has, through acquisitions and strategic partnerships, transformed the company into a "360 degree" media and marketing center serving the largest adult female audience of any media company in the United States. John S. Zieser, the Chief Development Officer, has led the company in this business activity, from the acquisition of Parents , Family Circles and Fitness brands from the European media conglomerate Bertelsmann in 2005, to the recent acquisitions of several digital and mobile companies that led to the expansion of Meredith's "business-to-business" Meredith Integrated Marketing Division into a major strategic licensing relationship with Walmart and Realogy associated with the brand Better Homes and Gardens . John Zieser also leads and manages Meredith's consumer brand acceleration overseas, through more than 35 licensing partnerships with leading media partners worldwide.
In March 2012, Meredith completed the acquisition of allrecipes.com from Reader's Digest Association for $ 175 million.
In October 2014, Meredith announced a 10-year license agreement with Martha Stewart Living Omnimedia to acquire rights to Martha Stewart Living, Martha Stewart Weddings, and marthastewart.com.
In November 2014, a month after signing a license agreement with Martha Stewart Living Omnimedia, Meredith acquired mywedding.com.
In November 2017, Meredith Corporation acquired Time Inc., combining to boast 135 Million readers. This acquisition was completed on January 31, 2018.
See also
- New Media Strategy
- List of US magazines
References
Further reading
- Brown, Kathi Ann (2002). Meredith: first 100 years . ISBN: 978-0-696-21668-8.
- Pendergast, Sara (2006). "Meredith Corporation". Histori International Company Directory . Retrieved 2018-05-13 - via Encyclopedia.com. < span>
External links
- Official website
- Agriculture.com Portal by Agricultural Success
- Better Home and Garden Website
Source of the article : Wikipedia
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