Meredith Corporation condenses two of its magazine markets by buying Bonnier’s parenting titles
The Swedish publisher Bonnier recently advertised that they were seeking a VP, Group Publisher for their parenting division – it turns out they won’t be needing to fill that slot as the company has sold both Parenting and Babytalk to Merdith Corporation.
According to the announcement from Meredith, the deal is an asset deal only, meaning that both titles will be folded. Readers of Bonnier’s Parenting will now start receiving Meredith’s title Parents, while readers of Babytalk will now receive Meredith’s American Baby.
Although Meredith’s announcement states that they will maintain the websites of the two acquired titles, no mention was made of the company keeping on the Bonnier employees.
Below is the press release in full:
Meredith Acquires Parenting and Babytalk Brands From Bonnier
NEW YORK, May 14, 2013 /PRNewswire/ — Meredith Corporation MDP; (www.meredith.com) announced today it has acquired Parenting and Babytalk magazines and their related digital assets from The Bonnier Corporation (www.Bonniercorp.com).
Under the agreement, the readers of Parenting will receive Parents magazine effective with the September issue. Similarly, readers of Babytalk will receive American Baby magazine effective with the September issue. The companion digital site, www.Parenting.com, will operate as a part of the Parents network of digital media.
Both Parents and American Baby magazines will include popular editorial features and columns from Parenting and Babytalk to ensure that readers are being super-served with great editorial content that reflects the best of the combined products.
Financial terms were not disclosed, and the acquisitions will not have a material effect on Meredith’s financial performance.
Meredith Corporation is the leading media and marketing company serving American women. Meredith reaches 100 million American women every month through multiple well-known national brands and local television brands in fast-growing markets. Meredith is the industry leader in creating content in key consumer interest areas such as home, family, food, health and wellness and self-development. Meredith uses multiple distribution platforms – including print, television, digital, mobile, tablets, and video – to give consumers content they desire and to deliver the messages of its advertising and marketing partners.
Additionally, Meredith Xcelerated Marketing serves the nation’s top brands and companies by delivering content-powered engagement for a hyper-connected world. Its deep expertise in digital, mobile, social, healthcare, analytics and international marketing enable it to provide cutting-edge cross-channel customer management for many of the world’s most popular brands.
A hallmark of Meredith’s business model and financial profile is its ability to consistently generate substantial free cash flow by leveraging the strength of its multi-platform portfolio. Meredith is committed to increasing Total Shareholder Return through dividend payments, share repurchases and strategic business investments.