Meredith Books
 |
|
| Public | |
| Traded as | : MDP S&P 400 Component |
| Industry | Media |
| Founded | 1902 |
| Headquarters | Des Moines, Iowa |
|
Key people
|
Steve Lacy (Chairman and CEO) Tom Harty (President and COO) |
| Products |
Newspapers Magazines Television Educational Services Websites |
| Revenue | US$1.6 billion (2016) |
|
Number of employees
|
3,600 (2016) |
| Website | www |
The Meredith Corporation is an American media conglomerate based in Des Moines, Iowa, USA. The company has two divisions: National Media and Local Media.
As of 2016, the company employs 3,600 people and has US$1.6 billion in revenues.
Edwin Thomas Meredith founded the company in 1902 when he began publishing Successful Farming magazine. In 1922, Meredith began publishing Fruit, Garden and Home magazine, a home and family service publication. Two years later, this magazine was retitled Better Homes and Gardens, and the first issue cost a dime on the newsstand. In 1930, they published the first edition of The Better Homes and Gardens Cook Book. By 1928, the company had combined circulations of 2.5 million.
The company went public in 1946 and was first listed on the in 1965. Following its initial public offering, Meredith began acquiring television stations, a strategy it has continued over the decades.
Recently, Meredith has introduced numerous other female-oriented consumer brands and has expanded its reach, through acquisitions and strategic partnerships, to become the leading media and marketing company serving the adult female audience in the United States. The company has extended its media and marketing platform around the globe, through acquisitions and strategic licensing relationships. In recent years, Meredith has acquired allrecipes.com from Reader's Digest Association, mywedding.com., Selectable Media, and Shape, Natural Health and Fit Pregnancy from American Media Inc.
In February 2013, Meredith and Time Warner held discussions on a possible purchase of Time Inc. to Meredith.
On September 8, 2015, Media General announced the acquisition of Meredith Corporation in a cash and stock deal valued at $2.4 billion. Pending regulatory and shareholder approval, the deal was expected to be consummated in June 2016. The combined company would have operated under the name Meredith Media General, and be the third-largest owner of television stations in the United States—serving an estimated 30% of households. To comply with FCC ownership limits, the company would have divested and/or swapped stations in six markets. Media General shareholders would have controlled 65% of the company, with Meredith shareholders holding 35%. However, on January 27, 2016, Nexstar Broadcasting Group announced that it would acquire Media General. In February 2017, it was reported that Meredith Corp. and a group of investors led by Edgar Bronfman Jr. were considering pursuing Time Inc.
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