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 ]
Neil Jamieson, a Time Inc. vet and a big figure in the magazine design world, has left to join design studio Joe Zeff Design to be the studio's first creative director. Jamieson most recently was design director of Money, whose tablet edition was a National Magazine Award finalist this year. He... Continue reading at AdWeek
[ AdWeek | 2013-07-10 00:00:00 UTC ]
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Earnings at Time Warner Inc. grew 24% in the first three months of the year despite a slight drop in revenue, as the company benefited from strength in its television networks.Time Warner Inc. said Wednesday that first-quarter net income was $720 million, or 75 cents per share, compared with... Continue reading at Crains New York
[ Crains New York | 2013-05-02 00:00:00 UTC ]
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According to Fortune, the media giant is meeting with a reps from Meredith--but nothing's been confirmed. Could Time Warner be following in the steps of News Corp. and considering spinning off its publishing division? According to a report by Fortune (a Time Inc. publication), the media... Continue reading at Fast Company
[ Fast Company | 2013-02-14 00:00:00 UTC ]
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Time Inc. has named Martha Nelson as editor-in-chief of the media company. The company said Tuesday that Ms. Nelson is the first woman in the company's 90-year history to hold the role. She has worked for Time Inc. for 20 years and has been editorial director since 2010. She will assume the top... Continue reading at Crains New York
[ Crains New York | 2012-12-19 00:00:00 UTC ]
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SheKnows.com, a women's lifestyle site, has been acquired by Great Hill Partners, a private equity firm specializing in high-growth companies. Formerly under the umbrella of Evolve Media Corp., SheKnows.com was a hallmark property of the brand, responsible for over 41 million unique visitors... Continue reading at AdWeek
[ AdWeek | 2012-12-18 00:00:00 UTC ]
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Pearson has acquired education company EmbanetCompass for $650 million in cash. EmbanetCompass... Continue reading at The Bookseller
[ The Bookseller | 2012-10-17 00:00:00 UTC ]
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Meredith Corp.--publisher of titles such as Better Homes & Gardens and Ladies Home Journal--has introduced The Meredith Engagement Dividend, a product that offers advertisers guaranteed sales for their investment in Meredith magazines. Participation requires a 12-month advertising commitment... Continue reading at Folio Magazine
[ Folio Magazine | 2011-07-25 00:00:00 UTC ]
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