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Meredith Corporation
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{{short description|American media company}}{{cleanup-PR|1=article|date=December 2017}}







factoids
S&P 400 Component| industry = Mass mediaEdwin T. Meredith| location = Des Moines, IowaSteve Lacy (businessman)>(Executive Chairman)(President and CEO)}}NewspapersMagazines>TelevisionEducation>Educational Services|Websites}}| revenue = {{increase}} $2.247 billion (FY 2018)| net_income = {{increase}} $0.099 billion (FY 2018)| assets = {{increase}} $6.727 billion (FY 2018)| equity = {{increase}} $1.097 billion (FY 2018)| num_employees = 7,915 (2018)weblink}} PUBLISHER=U.S. SECURITIES AND EXCHANGE COMMISSION, }}(File:Meredith Corp old.svg|right|thumb|Former logo from 1960s to 2009)Meredith Corporation is an American media conglomerate based in Des Moines, Iowa. The company owns magazines, television stations, websites, and radio stations. Meredith's publications have a readership of more than 120 million, paid circulation of more than 40 million, and its websites have nearly 135 million monthly unique visitors. Meredith's broadcast television stations reach 11% of U.S. households.

History

{{Prose|date=March 2019}}Edwin Thomas Meredith founded the company in 1902 when he began publishing Successful Farming magazine.NEWS,weblink Timeline: Meredith Corp. history, The Des Moines Register, September 8, 2015, In 1922, Meredith began publishing Fruit, Garden and Home magazine, a home and family service publication.In 1924, the magazine was retitled Better Homes and Gardens,WEB,weblink Edwin T. Meredith, NNDB, and the first issue cost a dime on the newsstand.By 1928, the company had circulation of 2.5 million.In 1930, the company published the first edition of The Better Homes and Gardens Cook Book.In 1946, the company became a public company. It was listed on the New York Stock Exchange in 1965.
In March 2012, Meredith acquired allrecipes.com from Reader's Digest Association for $175 million.PRESS RELEASE,weblink Meredith Completes Acquisition of Allrecipes.com From Reader's Digest, PR Newswire, March 1, 2012, NEWS, Meredith to Buy AllRecipes.com,weblink The Wall Street Journal, 0099-9660, Ben Fox, Rubin, January 24, 2012, subscription, In October 2014, Meredith announced a 10-year licensing agreement with Martha Stewart Living Omnimedia to acquire the rights to Martha Stewart Living, Martha Stewart Weddings and marthastewart.com.NEWS, Martha Stewart’s Magazines to Outsource Business Side to Meredith,weblink Christine, Haughney, The New York Times, October 15, 2014, 0362-4331, subscription, NEWS, Martha Stewart Magazines to Be Licensed to Meredith Corp.,weblink Jeffrey A., Trachtenberg, The Wall Street Journal, October 15, 2014, 0099-9660, subscription, In November 2014, Meredith acquired mywedding.com.PRESS RELEASE,weblink Meredith Adds To Growing Presence In Wedding Marketplace With Acquisition Of Rapidly Growing Mywedding.com Brand, PR Newswire, November 17, 2014, NEWS,weblink Meredith Buys Mywedding.com, Chris, O'Shea, AdWeek, November 17, 2014, In January 2015, the company acquired Selectable Media.PRESS RELEASE,weblink Meredith Expands Digital Capabilities With Acquisition Of Selectable Media, PR Newswire, January 6, 2015, In January 2015 Shape, Natural Health and Fit Pregnancy from American Media Inc. Fitness magazine was folded into Shape, while retaining its website.NEWS, Bill Mickey, Meredith Buys Shape From AMI for $60 Million, Folio:, 2015-03-09, 2015-01-28,weblink In February 2013, Meredith and Time Warner held discussions on a possible purchase of Time Inc.; Time Warner at the time elected to spin it out as a separate company instead.WEB,weblink Time Inc. Lays Out Restructuring, Women's Wear Daily, WWD, February 5, 2014, February 5, 2014, Steigrad, Alexandra, NEWS, Lauria, Peter, Time Warner in talks with Meredith on magazines: source,weblink February 20, 2013, Reuters, February 13, 2013, On September 8, 2015, Media General announced its intent to acquire Meredith 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%.NEWS, Media General to Buy Meredith Corp. for $2.4 Billion,weblink September 8, 2015, The Wall Street Journal, September 8, 2015, However, the offer was countered by Nexstar Broadcasting Group, who made a successful, $4.6 billion bid to acquire Media General instead.NEWS,weblink FCC Approves Nexstar’s $4.6B Acquisition Of Media General, Lieberman, David, 2017-01-11, Deadline, 2018-04-21, en-US, In February 2017, it was reported that Meredith and a group of investors led by Edgar Bronfman Jr. were considering another possible purchase of Time Inc.NEWS, A. Trachtenberg, Jeffrey, February 7, 2017, Meredith, Bronfman Move Forward in Effort to Acquire Time Inc., The Wall Street Journal,weblink February 8, 2017, On November 26, 2017, it was announced that Meredith Corporation would acquire Time Inc. in a $2.8 billion deal. $640 million in backing was provided by Koch Equity Development, but the Koch family would not have a board seat or otherwise influence the company's operations.WEB,weblink Meredith Corp. Acquires Time Inc. in $2.8 Billion Koch Brothers-Backed Deal, Nyren, Erin, Littleton, Cynthia, November 26, 2017, Variety (magazine), Variety, November 27, 2017, WEB,weblink Time Inc. Sells Itself to Meredith Corp., Backed by Koch Brothers, Ember, Sydney, Ross, Andrew, The New York Times, November 26, 2017, November 27, 2017, On January 9, 2018, it was announced that Meredith would launch a Hungry Girl magazine on January 16, expanding from the online brand.NEWS, Hardy, Kevin, January 9, 2018, Meredith launches new Hungry Girl magazine,weblink Des Moines Register, January 15, 2018, On January 31, 2018, the company completed the acquisition of Time Inc.PRESS RELEASE,weblink Meredith Corporation Announces Completion Of Time Inc. Acquisition And Reports Fiscal 2018 Second Quarter And First Half Results, PR Newswire, January 31, 2018, JOURNAL,weblink Time Inc., Now Meredith and More Changes to Come, February 1, 2018, Hays, Kali, Women's Wear Daily, February 10, 2018, JOURNAL,weblink Who killed Time Inc.?, Columbia Journalism Review, Gold, Howard R., February 1, 2018, February 10, 2018, In March 2018, only six weeks after the closure of the deal, Meredith announced that it would lay off 200 employees, up to 1,000 more over the next 10 months, and explore the sale of Fortune, Money, Sports Illustrated, and Time. Meredith felt that, despite their "strong consumer reach," these brands did not align with its core lifestyle properties.NEWS,weblink Meredith Laying Off 1,200, Will Explore Sale of Time, SI, Fortune and Money Brands, Spangler, Todd, 2018-03-21, Variety, 2018-03-22, en-US, Howard Milstein had announced on February 7, 2018, that he would acquire Golf Magazine from Meredith,NEWS,weblink Banker shells out big bucks to buy Golf Magazine, 2018-02-08, New York Post, 2018-03-22, en-US, and Time Inc. UK was sold to the British private equity group Epiris (later rebranded to TI Media) in late February.WEB,weblink Marie Claire publisher Time Inc UK sold to private equity group, Sweney, Mark, 2018-02-26, the Guardian, en, 2018-03-22, In September 2018, Meredith announced the sale of Time to Marc Benioff and his wife Lynne for $190 million.NEWS,weblink Marc and Lynne Benioff will buy Times magazine from Meredith for $190M, TechCrunch, 2018-09-17, en-US, In November 2018, Meredith announced the sale of Fortune to Thai businessman Chatchaval Jiaravanon, whose family owns Charoen Pokphand, for $150 million.NEWS,weblink FORTUNE Sells to Thai Businessman for $150 Million, ANDREW, NUSCA, Fortune (magazine), Fortune, November 9, 2018, NEWS,weblink Fortune Magazine Sold to Thai Businessman for $150 Million, Christine, Hauser, Edmund, Lee, The New York Times, November 9, 2018, In May, 2019, Meredith announced the sale of Sports Illustrated to Authentic Brands Group, for $110 million.NEWS,weblink Meredith Corporation Announces Sale of Sports Illustrated to ABG for $110 million, May 27, 2019, Time Inc. Productions was renamed Four M Studios in May 2018. The studios is under Bruce Gersh, Meredith's president of People, Entertainment Weekly and People en Español and head of Four M Studios.NEWS, Otterson, Joe, Time Inc. Productions Rebrands as Four M Studios (EXCLUSIVE),weblink November 9, 2018, Variety, May 15, 2018,

Divisions

National media

Magazines

Meredith magazines include the following brands:{{div col|colwidth=20em}} {{div col end}}Defunct magazines include:

Digital media

Local media

The broadcasting division owns 15 television stations. Meredith's broadcasting division also produces Better, which was originally conceived as a brand extension of BH&G. Since its inception in 2007 the show has placed an increasing emphasis on celebrity interviews and music performances. There are also cooking demonstrations and regular features on health, beauty, fitness and fashion. The program currently airs on 80 stations nationwide.WEB,weblink Pursell, Chris, January 2008, Meredith Speeds Up ‘Better’ Rollout, TV Week, January 19, 2011, On December 23, 2013, Meredith announced plans to buy St. Louis CBS affiliate KMOV and Phoenix independent station KTVK for $407.5 million in cash from Gannett Company and Sander Media, LLC to satisfy a federal mandate that Gannett sell KMOV.PRESS RELEASE,weblink Meredith to Expand TV Portfolio with Deal to Add Stations in Phoenix, St. Louis, PR Newswire, December 23, 2013, The purchase of KMOV was completed on February 28, 2014,NEWS, Brown, Lisa, Meredith Corp. closes on $177 million purchase of KMOV,weblink February 28, 2014, St. Louis Post-Dispatch, February 28, 2014, while the KTVK sale was completed on June 19.Gannett-Sander Complete Phoenix Sale, TVNewsCheck, Retrieved 19 June 2014.Meredith has also struck deals to acquire ABC affiliate WGGB in Springfield, Massachusetts from Gormally Broadcasting for $53.8 millionWEB,weblink Meredith to Acquire WGGB Springfield, Mass., Malone, Michael, 19 June 2014, Broadcasting & Cable, 9 September 2014, and Fox affiliate WALA in Mobile, Alabama from LIN Media for $86 million.WEB,weblink Media General, LIN Sell Stations In 5 Markets, Staff, Following the 2018 announcement that Cox Media Group was looking to divest its 14 stations, Meredith was mentioned as a leading candidate to purchase the Cox stations. Such an acquisition would require minimal divestiture (only in Atlanta do the two companies overlap), and would also mark a return to Seattle, Pittsburgh, and Orlando where Meredith previously owned stations, though none of the former Meredith stations in those markets are currently owned by Cox.WEB,weblink Why Sinclair Won't Buy Cox, 10 November 2018, WEB,weblink Cox Enterprises Mulls Selling 14 TV Stations, 10 November 2018, WEB,weblink Meredith, Scripps Could Make a Play for Cox, 10 November 2018, On May 2, 2019, reports were made suggesting that Meredith was planning to sell off its stations to focus on its core media properties, with Apollo Global Management (which reached a deal to acquire a majority stake in the Cox stations through a joint venture called Terrier Media on February 15 of that year) suggested to be the main frontrunner.NEWS,weblink Meredith to explore sale of its U.S. broadcast stations: sources, 2019-05-01, Reuters, 2019-05-02, en,

Current Meredith-owned stations

  • () indicates a station that was built and signed on by Meredith.
  • (‡‡) indicates a station that was owned by First Media prior to its acquisition by Meredith in 1997.
{| class="toccolours" border="2" cellpadding="4" cellspacing="0" style="margin: 1em 1em 1em 0; background: #f9f9f9; border: 1px #aaa solid; border-collapse: collapse" style="vertical-align: top; text-align: center;"!style="background: #e3e3e3;"| City of license / Market!style="background: #e3e3e3;"| Station!style="background: #e3e3e3;"| ChannelTV (RF)!style="background: #e3e3e3;"| Owned since!style="background: #e3e3e3;"| Network affiliation style="vertical-align: top; text-align: left;"Mobile, Alabama>Mobile| WALA-TV| 10 (9)| 2014Fox Broadcasting Company>Fox style="vertical-align: top; text-align: left;" Phoenix| KPHO-TV| 5 (17)| 1952| CBS style="vertical-align: top; text-align: left;"| KTVK| 3 (24) | 2014Independent station (North America)>Independent style="vertical-align: top; text-align: left;"Hartford, Connecticut>Hartford - New Haven| WFSB| 3 (33)| 1997| CBS style="vertical-align: top; text-align: left;"Atlanta, GeorgiaSWARTZTITLE=PARENT OF CBS ATLANTA TO TAKE OVER OPERATIONS OF PEACHTREE TVACCESSDATE=JANUARY 18, 2011ATLANTA JOURNAL-CONSTITUTION>DATE=JANUARY 18, 2011, | WGCL-TV| 46 (19)| 1999| CBS style="vertical-align: top; text-align: left;"| WPCH-TV| 17 (20)| 2017 1| Independent style="vertical-align: top; text-align: left;" Springfield, MassachusettsWSHM-LD{{small>(semi-satellite of WFSB)}}| 3 (21)| 2004| CBS style="vertical-align: top; text-align: left;"| WGGB-TV| 40 (40)| 2014American Broadcasting Company>ABCFox (DT2) style="vertical-align: top; text-align: left;"Bay City, Michigan>Bay City - Flint, Michigan - Saginaw, Michigan>Saginaw, MI| WNEM-TV| 5 (22)| 1969MyNetworkTV (WNEM-DT2>DT2) style="vertical-align: top; text-align: left;" Kansas City, Missouri| KCTV| 5 (24)| 1953| CBS style="vertical-align: top; text-align: left;"| KSMO-TV| 62 (47)| 2005| MyNetworkTV style="vertical-align: top; text-align: left;"St. Louis, Missouri>St. Louis| KMOV| 4 (24)| 2014| CBSMyNetworkTV (DT3) style="vertical-align: top; text-align: left;"Henderson, Nevada>Henderson - Las Vegas, NV| KVVU-TV| 5 (9)| 1985| Fox style="vertical-align: top; text-align: left;" Portland, Oregon - Vancouver, Washington>Vancouver, WA| KPTV| 12 (12)| 2002| Fox style="vertical-align: top; text-align: left;"| KPDX ‡‡| 49 (30)| 1997| MyNetworkTV style="vertical-align: top; text-align: left;"| Bend, OregonKPDX>KUBN-LD{{small|(semi-satellite of KPDX)}}| 43 (43)| 2006| MyNetworkTV style="vertical-align: top; text-align: left;"Greenville, South Carolina>Greenville - Spartanburg, South Carolina - Asheville, North Carolina>Asheville| WHNS ‡‡| 21 (21)| 1997| Fox style="vertical-align: top; text-align: left;"Nashville, Tennessee>Nashville| WSMV-TV| 4 (19)| 1995| NBC style="vertical-align: top; text-align: left;"Note: style"vertical-align: top; text-align: center;"">

Former Meredith-owned stations{| class"toccolours" border"2" cellpadding"4" cellspacing"0" style"margin: 1em 1em 1em 0; background: #f9f9f9; border: 1px #aaa solid; border-collapse: collapse" style"vertical-align: top; text-align: center;"

!style="background: #e3e3e3;"| City of license / Market!style="background: #e3e3e3;"| Station!style="background: #e3e3e3;"| ChannelTV (RF)!style="background: #e3e3e3;"| Years owned!style="background: #e3e3e3;"| Current ownership status style="vertical-align: top; text-align: left;"Phoenix, Arizona>Phoenix| KASW| 61 (49)| 1| The CW affiliate owned by Nexstar Media Group style="vertical-align: top; text-align: left;"Fresno, California>Fresno| KSEE| 24 (38)| 1984–1993| NBC affiliate owned by Nexstar Media Group style="vertical-align: top; text-align: left;"Ocala, Florida>Ocala - Gainesville, FLWOGX{{small>(semi-satellite of WOFL)}}| 51 (31)| 1996–2002Fox Broadcasting Company>Fox owned-and-operated (O&O) style="vertical-align: top; text-align: left;" Orlando, Florida - Daytona Beach, Florida>Daytona Beach| WOFL| 35 (22)| 1983–2002| Fox owned-and-operated (O&O) style="vertical-align: top; text-align: left;"| WCPX-TV ‡‡| 6 (26)| 1997 2| CBS affiliate, WKMG-TV, owned by Graham Media Group style="vertical-align: top; text-align: left;"Omaha, Nebraska>Omaha| WOW-TV| 6 (22) | 1951–1975| NBC affiliate, WOWT, owned by Gray Television style="vertical-align: top; text-align: left;"| Syracuse, New YorkWTVH>WHEN-TV/WTVH **| 5 (47)| 1948–1993CBS affiliate owned by Granite Broadcasting{{small>(operated under an SSA by Sinclair Broadcast Group)}} style="vertical-align: top; text-align: left;"| Bend, OregonKFXO-CD>KFXO-LD| 39 (39)| 1997–2007| Fox affiliate owned by News-Press & Gazette Company style="vertical-align: top; text-align: left;"Pittsburgh, Pennsylvania>Pittsburgh| WPGH-TV| 53 (43)| 1978–1986| Fox affiliate owned by Sinclair Broadcast Group style="vertical-align: top; text-align: left;"Cleveland, Tennessee>Cleveland - Chattanooga, TN| WFLI-TV| 53 (42)| 2004–2008The CW affiliate owned by MPS Media{{small>(operated under SSA by New Age Media)}} style="vertical-align: top; text-align: left;"Seattle-Tacoma, Washington>Tacoma| KCPQ-TV| 13| 1998–1999 3Fox Broadcasting Company>Fox affiliate owned by Tribune Broadcasting style="vertical-align: top; text-align: left;"Notes:
  • 1 Owned by SagamoreHill Broadcasting, Meredith operated KASW under a shared services agreement.
  • 2 WCPX was acquired along with KPDX and WHNS when Meredith bought their parent company First Media,WEB,weblink Meredith To Purchase Channel 6, but the station was swapped to Post-Newsweek Stations (former name of Graham Media Group) for WFSB a day later. Meredith never held control of the station.
  • 3 Acquired solely to be traded to Tribune for WGCL.
AM Stations">

Radio stations{| AM Stations

FM Stations {| class="toccolours" border="2" cellpadding="4" cellspacing="0" style="margin: 1em 1em 1em 0; background: #f9f9f9; border: 1px #aaa solid; border-collapse: collapse" style="vertical-align: top; text-align: left;"!style="background: #e3e3e3;"|City of License/Market!style="background: #e3e3e3;"|Station/Frequency!style="background: #e3e3e3;"|Years owned!style="background: #e3e3e3;"|Current ownership status style="vertical-align: top; text-align: left;"| Phoenix!style="background: #cedff2;"| KPHO 910| 1952–1972| KGME, owned by iHeartMedia style="vertical-align: top; text-align: left;" Kansas City, Missouri!style="background: #cedff2;"| KCMO 810| 1953–1983WHB, owned by Union Broadcasting{{small>(KCMO is now at 710 AM)}} style="vertical-align: top; text-align: left;"!style="background: #ddcef2;"| KCMO-FM 94.9| 1953–1983| owned by Cumulus Media style="vertical-align: top; text-align: left;" Omaha!style="background: #cedff2;"| WOW 590| 1951–1983| KXSP, owned by SummitMedia style="vertical-align: top; text-align: left;"!style="background: #ddcef2;"| WOW-FM 92.3| 1951–1983| KEZO-FM, owned by SummitMedia style="vertical-align: top; text-align: left;"| Syracuse, New York!style="background: #cedff2;"| WHEN 620| 1954–1976| owned by iHeartMedia style="vertical-align: top; text-align: left;"| Bridgeport, Michigan!style="background: #cedff2;"| WNEM 1250| 2004–2013WJMK (AM)>WJMK, owned by Northern States Broadcasting style="vertical-align: top; text-align: left;"

Four M Studios

Four M Studios (Four M), formerly Time Inc. Productions, is Meredith's in-house production company and is under the oversight of Bruce Gersh, Meredith's president of People, Entertainment Weekly and People en Español.After attempting a few TV shows in 2014 and 2015, the company formed Time Inc. Productions in 2016 as its in house production company.NEWS, Applefeld Olson, Cathy, At Time Inc. Productions, It's All About the Brands - Cynopsis Media,weblink November 9, 2018, Cynopsis Media, January 11, 2018, The company launched its free, ad-supported online video service PeopleTV in 2016 which got a pay TV deal by May 2018 with FuboTV. In November 2017, the company launched its first over-the-top subscription service, Sports Illustrated TV, available via Amazon Channels. On October 30, 2017, the company announced that Paramount Network were partnering on two TV show pilots.NEWS, Paramount Network, Time Inc. Productions Announce Collaboration,weblink November 9, 2018, TVWeek, October 30, 2017, Time Inc. Productions was renamed Four M Studios in May 2018. Four M would expand from the Time titles to all Meredith titles and to freestanding lifestyle shows and scripted shows. Four M also announced at that time a deal with Freeform TV channel to develop Meredith magazine stories, including People’s “Heroes Among Us” franchise, into to telefilms.

Production library

Time Inc. Productions
  • People Magazine Investigates (Investigation Discovery)
  • The Mars Generation (Netflix)
  • The Making of SI Swimsuit 2017 (DirecTV Now)
  • Puppy Bowl: Where Are They Now (Animal Planet)
  • The Story of Diana (ABC) 2017 documentary miniseries, 2 nights 2 hours eachNEWS, Stanhope, Kate, Princess Diana Documentary in the Works at ABC,weblink November 9, 2018, The Hollywood Reporter, February 13, 2017, en,
  • A Year in Space (PBS) Emmy-winning
  • Cultureshock (A&E) pop culture docuseries from Entertainment WeeklyNEWS, Alcinii, Daniele, Bruce Gersh on Four M Studios’ unscripted strategy,weblink November 10, 2018, Realscreen, August 9, 2018,
  • 89 Blocks (Fox) East St. Louis high school football team documentary from Sports Illustrated, which was nominated for a Sports Emmy Award


Time Inc. Productions/Four M Studios


Four M Studios
  • Home (Apple) 10 one-hour episodes
  • People Magazine Investigates: Cults (Investigation Discovery)
  • People Magazine Investigates: Crimes of Fashion (Investigation Discovery)
  • The Story of the Royals (ABC) documentary miniseries

See also

References

{{Reflist|30em}}

Further reading

  • BOOK, 978-0-696-21668-8, Brown, Kathi Ann, Meredith: the first 100 years, 2002,
  • BOOK, Pendergast, Sara, International Directory of Company Histories, Meredith Corporation, 2006, 2018-05-13,weblink Encyclopedia.com,

External links

{{Meredith Corporation}}

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