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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Hearst Corporation, parent to the National Magazine Company, has confirmed for the first time it is no longer in talks to buy BBC Magazines following its Lagardère move. Continue reading at Media Week
[ Media Week | 2011-02-07 00:00:00 UTC ]
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Consumer magazines slowed their general circulation skid, with total paid and verified circ dropping 1.2 percent for the second half of 2010 (compared to a 2.3 percent drop in the first half of the year), according to preliminary figures reported in the Audit Bureau of Circulations' most recent... Continue reading at Folio Magazine
[ Folio Magazine | 2011-02-07 00:00:00 UTC ]
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It seems like most of the subway car empties at the Grand Street stop in the heart of New York Citys Chinatown. Just as the last person makes it off, the conductor announces, Stand clear of the closing doors, and Gong Hey Fat Choy! Happy New Year! Its the first day of Chinese New Year and... Continue reading at Publishers Weekly
[ Publishers Weekly | 2011-02-07 00:00:00 UTC ]
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Apple has moved to block third party app developers from selling content, such as ebooks, outside of the app store, leading to speculation that it wants a cut of digital purchases, even when they are made via apps such as the Kindle app. read more Continue reading at The Bookseller
[ The Bookseller | 2011-02-01 00:00:00 UTC ]
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Hearst Corp. announced today that it has made an offer of 651 million euros (or about $889 million) for Lagardere's international press and magazine business, including 102 titles in 15 countries, and 50 related Web sites. The deal includes publishing rights to Elle in 15 countries as well as 10... Continue reading at Folio Magazine
[ Folio Magazine | 2011-01-31 00:00:00 UTC ]
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Hearst Corporation has made a "binding offer" of 651m (£559m) for Lagardère's international magazine business, which includes a licensing agreement for fashion magazine Elle. Continue reading at Media Week
[ Media Week | 2011-01-31 00:00:00 UTC ]
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Written By: Katie Allen E-books are to be accepted for entry for the Man Booker prize for the first time in 2011 as a number of changes are made to the rules. Publishers are being asked to submit a digital version of their submissions as judges are to be supplied with e-readers for the first... Continue reading at The Bookseller
[ The Bookseller | 2011-01-28 00:00:00 UTC ]
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Written By: Charlotte Williams Puffin is to publish a new picture book by The Very Hungry Caterpillar author Eric Carle, his first in four years. The Artist Who Painted a Blue Horse will be published in October 2011, in a global, simultaneous publication with Philomel, a Penguin Young Readers... Continue reading at The Bookseller
[ The Bookseller | 2011-01-28 00:00:00 UTC ]
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Marty Peretz, the editor-in-chief of The New Republic of the past 37 years, is stepping down and taking the title of "editor-in-chief emeritus." Editor Richard Just takes over as editor-in-chief. Perezt, who wrote a blog called The Spine, will continue to write a column for TheNewRepublic.com. Continue reading at Folio Magazine
[ Folio Magazine | 2011-01-27 00:00:00 UTC ]
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Written By: Barbara Casassus Market research firm GfK has predicted that 1 million tactile tablets will be sold in France this year. A total of 435,000 worth 220 million euros were sold here in 2010, a strong start for the new market. Although tablet sales for Christmas were reported not to... Continue reading at The Bookseller
[ The Bookseller | 2011-01-27 00:00:00 UTC ]
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Total revenue jumped 9 percent to $367 million for Meredith Corp in the second quarter of fiscal 2011, driven by strong advertising growth and integrated marketing services. Total advertising revenue for the first six months of fiscal 2011 jumped 11 percent to $420 million (with total revenue of... Continue reading at Folio Magazine
[ Folio Magazine | 2011-01-25 00:00:00 UTC ]
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Morgan Entrekin, holding book, publisher at Grove/Atlantic, met with booksellers at the Winter Institute book fair last week. Continue reading at The New York Times
[ The New York Times | 2011-01-24 00:00:00 UTC ]
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Organic growth will be the primary driver of the media business over the next 12 to 24 months, according to nearly 500 executives in the information, marketing services and technology sectors, according to the first annual Media Growth survey from investment banker The Jordan, Edmiston Group and... Continue reading at Folio Magazine
[ Folio Magazine | 2011-01-24 00:00:00 UTC ]
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NewPage Paper and Verso--the largest makers of coated paper and the subject of merger rumors last year--are b Continue reading at Folio Magazine
[ Folio Magazine | 2011-01-18 00:00:00 UTC ]
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After several stark years in which stores like Cody's in San Francisco and Davis-Kidd Booksellers in Nashville closed and the nation's second largest chain is teetering more than ever, publishers and booksellers are looking for new ways to work together. Continue reading at Publishers Weekly
[ Publishers Weekly | 2011-01-17 00:00:00 UTC ]
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