President and CEO Tom Harty opened Meredith Corp.'s quarterly earnings call Thursday morning by declaring the integration of the now two-year-old Time Inc. acquisition "largely complete," leaving the company in "the strongest competitive position in its history." Performance in Meredith's magazine and digital media business, known as its National Media Group, "significantly exceeded our expectations," in its fiscal Q2 (which ended on December 31), he said, driven by a second consecutive quarter of growth in its combined print and digital advertising business. While overall National Media Group revenue was down 3.1% compared to the same period last year, Meredith attributed those declines to numerous changes it made to its portfolio in recent months (outlined below), including the closure of Family Circle, which CFO Joe Ceryanec implied had been losing money but still had an impact on the group's top line revenue when it was shut down. Excluding these special items, Harty said, the National Media Group's operating profit was $92 million and adjusted EBITDA was $141 million, nothing that both figures were second-quarter records for the company. "If you look at calendar 2019 in its entirety, total comparable National Media Group advertising was up, meaning we achieved the inflection point of digital advertising revenue gains more than off-setting print advertising declines," he added. Harty summarized the changes the company has made to its magazine portfolio in greater... Continue reading at 'Folio Magazine'
[ Folio Magazine | 2020-02-06 19:40:45 UTC ]
When Vice first appeared on Ad Age's Magazine A-List in 2010, it raised more than few eyebrows among industry stalwarts. For one thing, it was the first free-distribution magazine Ad Age had ever honored. And another thing—OK, the main thing—Vice is a cheerfully irreverent, quasi-rude... Continue reading at Crains New York
[ Crains New York | 2013-10-22 00:00:00 UTC ]
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Meredith Corp. will introduce Allrecipes magazine, a spin-off of the cooking site it bought in 2012, the company said on Monday.The magazine will guarantee its advertisers an average paid circulation of 500,000 and publish six times a year, starting with a December issue planned to hit... Continue reading at Crains New York
[ Crains New York | 2013-07-16 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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Moving forward with an expanded focus on digital media, Time Out New York (TONY) has integrated e-commerce and daily deals into its website and newly-launched apps. Continue reading at Folio Magazine
[ Folio Magazine | 2012-04-11 00:00:00 UTC ]
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