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 former Time Inc. titles deemed "non-core" to Meredith's portfolio of mostly women's lifestyle magazines and put up for sale in March 2018 just weeks after the merger of the two publishing giants was finalized, the offloading of Money follows earlier sales of Time, Golf, Fortune and, most recently, Sports Illustrated. Unable to find an offer that "fairly valued" Money as a print and digital brand, a Meredith spokeswoman tells Folio:, the company had initially taken it off the market back in April, instead opting to shutter its print edition, sell its direct-sold subscriber file to Kiplinger's Personal Finance and signal that it planned to invest in Money.com as a digital-only brand. The spokeswoman adds that while Meredith wasn't actively marketing Money for sale in the six months that followed—"we have been very pleased with the value it was adding to our portfolio"—the company received "several inbound inquiries," which eventually led to an offer from Ad Practitioners that was "more in line with our own valuation." Money.com still draws 4 million unique visitors each month, on average, and maintains 14 staffers in Meredith's downtown Manhattan offices, the former headquarters of Time... Continue reading at 'Folio Magazine'
[ Folio Magazine | 2019-10-22 16:06:17 UTC ]
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This story first appears on FOLIO: sister site, minonline. Meredith Corp. chairman/CEO (since July 2004) Steve Lacy announced that the board of directors approved a $1.02-to-$1.53 per-share increase in the quarterly dividend paid to investors and authorized the repurchase of $100 million of... Continue reading at Folio Magazine
[ Folio Magazine | 2011-10-27 00:00:00 UTC ]
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Written By: Lisa Campbell Publication Date: Wed, 26/10/2011 - 13:03 The Office of Fair Trading has cleared Amazon to take over The Book Depository, ruling the merger would not lead to a lessening of competition within the UK book industry. read more Continue reading at The Bookseller
[ The Bookseller | 2011-10-26 00:00:00 UTC ]
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Written By: Lisa Campbell Publication Date: Wed, 26/10/2011 - 15:55 The Booksellers Association has said the Office of Fair Trading's decision to clear the merger between Amazon and The Book Depository will give Amazon more power to put its competitors out of business. The OFT announced today... Continue reading at The Bookseller
[ The Bookseller | 2011-10-26 00:00:00 UTC ]
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The first stage of Hearst Magazines UK's commercial restructure marks a move towards creating more joined-up brands, group commercial director Matt Salmon has claimed. Continue reading at Media Week
[ Media Week | 2011-10-25 00:00:00 UTC ]
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Written By: Graeme Neill Publication Date: Fri, 21/10/2011 - 10:31 William Heinemann has bought a début novel by Times columnist Sathnam Sanghera about three generations of the same family and their Wolverhampton corner shop. Publisher Jason Arthur bought UK and Commonwealth rights, excluding... Continue reading at The Bookseller
[ The Bookseller | 2011-10-21 00:00:00 UTC ]
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Business-to-business media company WTWH Media, LLC isnt afraid of the uncertainty surrounding the magazine market placethe company is launching a new title this month called Solar Power World magazine in an effort to expand its portfolio. Continue reading at Folio Magazine
[ Folio Magazine | 2011-10-20 00:00:00 UTC ]
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In July, Meredith Corp. launched its Engagement Dividend program, a guaranteed ROI investment partnership for select advertisers. Already, Meredith has met with over 100 companies (which equates to even more brands) about a possible partnership in the program. Continue reading at Folio Magazine
[ Folio Magazine | 2011-10-19 00:00:00 UTC ]
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Written By: Charlotte Williams Publication Date: Thu, 20/10/2011 - 08:45 Alma Books is planning to hire more staff and expand its non-fiction and YA lists, after reversing a loss made in its 2009 financial year. read more Continue reading at The Bookseller
[ The Bookseller | 2011-10-19 00:00:00 UTC ]
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With print media in decline, magazine companies are working feverishly to get a foothold in TV and video. Two that have been especially aggressive on this front are Condé Nast, which just started an entertainment division and hired cable vet Dawn Ostroff to run it; and Hearst Corp., which... Continue reading at AdWeek
[ AdWeek | 2011-10-18 00:00:00 UTC ]
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Written By: Graeme Neill Publication Date: Tue, 18/10/2011 - 07:15 HarperCollins is planning to release a Hello Kitty branded version of its Collins Dictionaries as part of a new deal with the global brand. Richard Haines, brand manager at HarperCollins Children's Books, signed the deal with... Continue reading at The Bookseller
[ The Bookseller | 2011-10-18 00:00:00 UTC ]
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The regional magazine sector continues to expand as new publication Arlington Magazine debuts this month. Continue reading at Folio Magazine
[ Folio Magazine | 2011-10-17 00:00:00 UTC ]
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Written By: Graeme Neill Publication Date: Mon, 17/10/2011 - 09:28 The director of the Frankfurt Book Fair has said start-ups will capitalise on the trade, as the organisers revealed exhibitor numbers were down 2.1% on 2010. In total, 7,384 exhibitors from 106 countries attended last week's... Continue reading at The Bookseller
[ The Bookseller | 2011-10-17 00:00:00 UTC ]
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The Financial Times will close FT Tilt, a premium online financial news and analysis service for finance professionals in emerging markets, at the end of October. "We propose to close FT Tilt at the end of October," an FT spokesperson told FOLIO:. Continue reading at Folio Magazine
[ Folio Magazine | 2011-10-13 00:00:00 UTC ]
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The NOOK Newsstand is getting another addition, Time Inc. has announced that Real Simple magazine will be exclusively sold on the digital platform for the month of November and will begin a full digital integration with the December issue. Continue reading at Folio Magazine
[ Folio Magazine | 2011-10-13 00:00:00 UTC ]
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Hearst Magazines UK has signed up as media partner for Race Online 2012's latest initiative to encourage everyone in the UK to get online by the end of next year. Continue reading at Media Week
[ Media Week | 2011-10-12 00:00:00 UTC ]
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'Instant Ink' will supply you with a steady flow of ink to print out the Conde Nast magazines flowing from your printer. Continue reading at PC World
[ PC World | 2011-10-12 00:00:00 UTC ]
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BSkyB has axed the print version of Sky Magazine, the largest UK magazine by circulation, after deciding not to go ahead with a quarterly version of the title. Continue reading at Media Week
[ Media Week | 2011-10-12 00:00:00 UTC ]
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Specialist magazine publisher Future is launching a new monthly print and digital magazine, N-Photo, next month. Continue reading at Media Week
[ Media Week | 2011-10-12 00:00:00 UTC ]
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After showing growth for the first six months of 2011, consumer magazine ad pages fell 5.6 percent in the third quarter compared to the same period in 2010, according to newly released figures from Publishers Information Bureau. Continue reading at Folio Magazine
[ Folio Magazine | 2011-10-11 00:00:00 UTC ]
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The digital transition and sputtering economy are not only bringing changes to general bookstores, but to college bookstores as well. College stores are dealing with a changed landscape of their own: more textbook choices that now include rentals and digital texts; trade book sections with sales... Continue reading at Publishers Weekly
[ Publishers Weekly | 2011-10-07 00:00:00 UTC ]
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