Meredith Corp., including Southern Living, purchased in $2.7B deal
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Meredith Corporation, the massive publisher with a large presence in Birmingham, will be sold to Dotdash, the digital publishing sector of New York-based IAC/Interactive Corp., for a whopping $2.7 billion. Keep reading to learn how the acquisition, which includes brands such as Southern Living, People and Better Homes & Gardens, will affect Birmingham.
Acquired by New-York Based IAC/Dotdash
IAC’s @dotdashco will acquire the entity that will hold Meredith Corporation’s National Media Group. The new Dotdash Meredith will be led by Neil Vogel. More information: https://t.co/qPwK2L7fQd pic.twitter.com/ljUZucTyOq
— Meredith Corporation (@MeredithCorp) October 6, 2021
On October 6th, Iowa-based Meredith Corporation announced that they have reached an agreement with IAC’s Dotdash digital publishing unit, in which IAC/Dotdash will acquire Meredith Corporation’s National Media Group and it’s affiliated brands, including:
- PEOPLE
- Better Homes & Gardens
- Allrecipes
- Southern Living
- InStyle
- REAL SIMPLE
IAC/Dotdash is a successful digital publisher on its own, reaching approximately 100 million online customers each month. In fact, its collection of 14 media brands—ranging from health, finance and lifestyle—are some of the fastest-growing media brands online.
The deal is expected to close before the end of the year.
How will this affect Meredith’s Birmingham operations?
In addition to their corporate headquarters in Des Moines, Iowa, Meredith Corp operates more than 20 offices throughout the country, including Birmingham. As a result of the deal, the new company will be called Dotdash Meredith and run by Dotdash’s Chief Executive Neil Vogel.
A number of Meredith’s brands, including Southern Living—which was founded in Birmingham—and AllRecipes.com, have a presence in Meredith’s Birmingham office. It is expected that the merged company will focus its efforts on the array of digital publications.
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