Meredith Corp. has agreed to acquire Time Inc. for $2.8 billion including debt, swallowing the once-mighty home of Fortune and Sports Illustrated after the internet age wreaked havoc on even the most prestigious magazine titles.The $18.50-a-share offer is an all-cash one, Meredith said in a statement Sunday. The deal gives Meredith, publisher of Better Homes & Gardens, a larger audience at a time when publishers need to get bigger to compete with Facebook and Google in advertising. The acquisition also gives the billionaire Koch brothers, Charles and David, who agreed to support Meredith's offer with an equity injection of $650 million, a foothold in the struggling magazine industry.Koch Equity Development, the brothers' investment arm, won't have a seat on Meredith's board or have influence on its editorial or managerial operations, according to the statement. Continue reading at AdAge.com Continue reading at 'Advertising Age'
[ Advertising Age | 2017-11-27 00:00:00 UTC ]
The $360 million mortgage for Goldman Sachs’ former headquarters at 85 Broad St. is a “loan of concern,” Fitch Ratings said.Goldman developed the 1.1 million-square-foot building in 1983 to house its entire workforce of 1,500 before moving out in 2010 for new headquarters on West Street. Only... Continue reading at Crains New York
[ Crains New York | 2024-07-11 17:49:07 UTC ]
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In the last few months, news organizations have leapt into bed with OpenAI, hatching Faustian bargains where the cash-strapped media industry exchanges a monetary pittance for OpenAI's right to scrape and integrate their content into things like ChatGPT. Those that have signed in blood include... Continue reading at Engadget
[ Engadget | 2024-05-29 16:21:28 UTC ]
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Months after mass layoffs threatened its future, Sports Illustrated will resume publishing after its owner reached a new rights deal with digital media company Minute Media. Continue reading at CBC
[ CBC | 2024-03-18 17:12:26 UTC ]
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Its operators made a newsroom announcement, but the outcome is uncertain since the owner has signaled it wants the magazine to endure. Continue reading at The New York Times
[ The New York Times | 2024-03-14 21:44:26 UTC ]
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After falling in April, bookstore sales rose 6% in May over 2022, rising to $650 million from $613 million a year ago. Continue reading at Publishers Weekly
[ Publishers Weekly | 2023-07-18 04:00:00 UTC ]
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The purchase of Meredith Corp.'s magazine publishing operations is expected to close by the end of the year. Continue reading at Advertising Age
[ Advertising Age | 2021-10-06 23:04:39 UTC ]
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Dotdash, the digital publisher owned by IAC, announced Wednesday evening that it has reached an agreement to acquire Meredith Corp., a holding company whose titles include iconic properties like People, Southern Living and Better Homes & Gardens. Dotdash will purchase Meredith at a price of... Continue reading at AdWeek
[ AdWeek | 2021-10-06 22:53:29 UTC ]
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Last week, Guto Harri, an anchor on GB News, in the United Kingdom, addressed a pressing news story: the racist abuse that Black English players faced following the final of the European soccer championships, which England lost, and the broader debate around the players’ practice of taking a... Continue reading at Columbia Journalism Review
[ Columbia Journalism Review | 2021-07-20 12:38:46 UTC ]
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Interviews Photo of Lilliam Rivera by Lilith Ferreira / Las Fotos Project Lilliam Rivera is an award-winning author of children’s books who currently resides in Los Angeles, California. Rivera’s work has appeared in the New York Times,... Continue reading at World Literature Today
[ World Literature Today | 2020-12-02 22:19:21 UTC ]
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Interviews Photo of Lilliam Rivera by Lilith Ferreira / Las Fotos Project Lilliam Rivera is an award-winning author of children’s books who currently resides in Los Angeles, California. Rivera’s work has appeared in the New York Times,... Continue reading at World Literature Today
[ World Literature Today | 2020-12-02 22:19:21 UTC ]
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A year after converting Traditional Home from a primarily advertising-funded model to a more consumer-driven, newsstand-only publication—and cutting its frequency, circulation and most of its editorial staff in the process—Meredith Corp. announced Monday that it is once again selling... Continue reading at Folio Magazine
[ Folio Magazine | 2020-07-20 19:24:27 UTC ]
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A year after converting Traditional Home from a primarily advertising-funded model to a more consumer-driven, newsstand-only publication—and cutting its frequency, circulation and most of its editorial staff in the process—Meredith Corp. announced Monday that it is once again selling... Continue reading at Folio Magazine
[ Folio Magazine | 2020-07-20 19:24:27 UTC ]
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Yet another company has pulled out of June's postponed Digital Content NewFronts. Meredith, the magazine publisher with publications that include People, Better Homes & Gardens and Allrecipes, will not court advertisers with a NewFronts presentation this year due to the "current climate,"... Continue reading at AdWeek
[ AdWeek | 2020-04-14 17:34:21 UTC ]
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[caption id="attachment_177771" align="alignright" width="150"] Jason Frierott[/caption] Meredith Corp. announced Thursday that it has hired Jason Frierott as its new VP and CFO, succeeding Joe Ceryanec, who had previously announced plans to retire in early 2020 after 12 years in the... Continue reading at Folio Magazine
[ Folio Magazine | 2020-02-27 20:00:04 UTC ]
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[caption id="attachment_141881" align="alignright" width="150"] Joe Brown[/caption] Hearst Magazines has hired Joe Brown as group editorial director of its Hearst Autos division, which includes Car and Driver, Road & Track and Autoweek, among other titles, starting March 2. Brown moves to... Continue reading at Folio Magazine
[ Folio Magazine | 2020-02-13 19:39:00 UTC ]
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Meredith announced it has another quarterly newsstand title in the works, this time with chef, author and TV personality Ayesha Curry. This will be the second new title added to the Meredith portfolio in 2020, along with “The Property Brothers” Drew Jonathan Scott’s Reveal, which hit newsstands... Continue reading at Folio Magazine
[ Folio Magazine | 2020-01-23 14:48:45 UTC ]
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Meredith Corp. has sold the Money magazine brand to Ad Practitioners LLC, a three-year-old Puerto Rico-based media and advertising startup behind the product review site ConsumersAdvocate.org, both parties announced Tuesday morning. Terms of the deal were not disclosed. One of a handful of... Continue reading at Folio Magazine
[ Folio Magazine | 2019-10-22 16:06:17 UTC ]
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Yeah, I was in the magazine business before you were. Probably. This was from 1973 to 1977, a gentler time when baseball uniforms were double-knit and Nazis had the decency to cower in South America and Good & Plenty was a household name. It was a time, dear reader, before Photoshop. Before... Continue reading at Folio Magazine
[ Folio Magazine | 2019-05-30 14:46:31 UTC ]
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Meredith Corp. execs touted what they saw as encouraging signs for both print and digital advertising as well as a significant uptick in consumer-driven revenue on an earnings call Friday reporting the company's performance in the third quarter of 2019 (Meredith's fiscal years start in July... Continue reading at Folio Magazine
[ Folio Magazine | 2019-05-14 16:48:23 UTC ]
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