Welcome to our dedicated page for Meredith Corporation news (Ticker: MDP), a resource for investors and traders seeking the latest updates and insights on Meredith Corporation stock.
Meredith Corporation (symbol: MDP) is a preeminent media and marketing company reaching 100 million Americans every month. With a portfolio of well-known national brands and local television channels in fast-growing markets, Meredith excels in delivering high-quality content across various consumer interest areas such as home, family, food, health, and agriculture. The company employs multiple distribution platforms, including print, television, digital, mobile, tablets, and video, ensuring that consumers receive the content they crave and that advertisers reach their target audience effectively.
Meredith Xcelerated Marketing, a division of the company, has bolstered its capabilities through strategic acquisitions of cutting-edge firms in digital, mobile, social, healthcare, database, and international marketing. This expansion enables Meredith to offer powerful and custom marketing solutions to top brands and companies nationwide.
In recent news, Meredith's brand REAL SIMPLE has launched registration for the 2024 REAL SIMPLE Women's Half Marathon in collaboration with the New York Road Runners, aiming to support the Food Bank for New York City's Woman to Woman campaign. Additionally, Meredith's Food & Wine, Southern Living, and Travel + Leisure announced the first-ever FOOD & WINE Classic in Charleston, scheduled for September 2024. This premier festival will feature world-class chefs, food and wine tastings, and exclusive tours.
Meredith Corporation is also celebrated for its editorial excellence, with Beautiful Kitchens & Baths magazine unveiling its 13th annual list of 30 Most Innovative Products. Furthermore, Southern Living recently announced the winners of its eighth annual South's Best Awards, recognizing readers' favorite Southern destinations and experiences.
Meredith's commitment to innovation and quality content continues to set it apart in the media and marketing landscape, making it a significant entity in the stock market and media industry.
EatingWell, a brand under Meredith Corporation (NYSE: MDP), has revealed its 2021 Summer Food Trends, highlighting five seasonal food trends predicted to resonate with audiences. Key trends include a 17% increase in interest in pickling, 333% growth in broccoli salad views, and a 73% rise in cocktail recipe views. These insights stem from consumer data analyzed by EatingWell's editorial team and dietitians, addressing growing interests in health-conscious eating amid the pandemic.
Meredith Corporation (NYSE: MDP) has launched Paw Print, the largest consumer magazine focused on pet families, reaching nearly 70% of U.S. pet owners. This publication will serve 1 million selected subscribers, delivering engaging content for pet parents. Following the success of DailyPaws.com, which garnered over 2 million unique monthly viewers, Paw Print aims to enhance the pet ownership experience. Supported by Mars Petcare as the launch sponsor, the magazine responds to the growing demand for pet-related content amid rising pet ownership trends in the U.S.
On May 6, 2021, Meredith Corporation (NYSE: MDP) unveiled its new programming slate at the IAB NewFronts, driven by insights from first-party data and predictive analytics. The company aims to enhance consumer engagement with series and podcasts tailored for its primary audience—American women. Highlights include Ayesha Curry's cooking series and various podcasts launching in June. The digital engagement of Meredith rose 16%, and video views surged 45% year-over-year. Additionally, the new Video Accountability Suite will help advertisers measure campaign effectiveness against their KPIs.
Meredith Corporation's PARENTS announced the winners of the 2021 Family Travel Awards, highlighting the top 20 family getaways in the U.S. This selection, made by a panel of experts, emphasizes safe, affordable, and outdoor experiences for families. The winners were chosen from over 150 nominated locations, prioritizing health and safety amidst the ongoing COVID-19 pandemic. The complete list, which includes various categories such as adventure resorts and beach towns, is featured on Parents.com and in the June issue of PARENTS magazine.
Meredith Corporation (NYSE: MDP) has announced the sale of its Local Media Group to Gray Television for $2.7 billion in cash. This move allows Meredith to focus on its National Media Group. Shareholders are expected to receive approximately $14.50 per share and a 1-for-1 equity share in the new Meredith entity post-close. The transaction aims to enhance financial flexibility and drive growth in digital and consumer opportunities. It has received unanimous board approval and is expected to close in Q4 2021, subject to shareholder and regulatory approvals.
Meredith Corporation (NYSE: MDP) reported mixed fiscal 2021 third quarter results, with total revenues at $664.5 million, down 5% year-over-year. Earnings from continuing operations rose to $79.1 million, benefiting from a $53 million gain from special items, mainly the sale of Travel + Leisure. Digital advertising revenues grew by 21%, surpassing magazine ad revenues for the second consecutive quarter. However, combined magazine revenues fell by 19%, impacted by pandemic-related challenges. Free cash flow decreased by 32% to $68.3 million, while net debt reduced by $251 million, highlighting ongoing debt management efforts.
Meredith Corporation (NYSE: MDP) announces the fourth annual REAL SIMPLE Home event, set in northern New Jersey this fall. This year marks the debut of a single-family home featuring innovative design concepts and DIY strategies from industry experts. Launching in the October issue available on September 17, the home will highlight a virtual experience on REALSIMPLE.com/rshome21. Additionally, the REAL SIMPLE Home Store will open for exclusive product purchases. Engaging renowned designers, the initiative aims to inspire consumers with practical solutions for enhancing home life.
Meredith Corporation (NYSE: MDP) announced the return of the FOOD & WINE Classic in Aspen, scheduled for September 10-12, 2021. The event will feature renowned chefs and wine experts, including Martha Stewart, Guy Fieri, and Carla Hall. Tickets go on sale April 28, with exclusive pre-sale access for American Express Card Members. The Classic will offer live cooking demonstrations, wine tastings, and dining experiences. A portion of ticket sales will support Southern Smoke Foundation and No Kid Hungry. Safety protocols will be observed, along with virtual extensions of the event.
Meredith Corporation's Travel + Leisure has released its 2021 It List, featuring 73 of the world's best new hotels, selected by its editors. The list showcases properties across 29 countries, emphasizing the resilience of the hospitality industry amidst challenges. Notable mentions include hotels from various styles, such as safari lodges and luxury resorts, with 30 properties located in the United States. The It List is highlighted in the May issue of Travel + Leisure and is aimed at inspiring travelers to plan future trips.
Meredith Corporation (NYSE: MDP) will release its fiscal 2021 third quarter and first nine months results on April 29, 2021. A conference call is scheduled for 9:00 AM EDT on the same day to discuss the earnings report. Meredith is a diversified media and marketing firm reaching approximately 190 million consumers monthly, primarily women, through various platforms including digital, video, and broadcast television. The company operates over 40 brands and is the leading U.S. magazine operator, aiming to enrich consumers' lives through trusted brand content.
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