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.
On Nov. 1, 2021, InStyle unveiled the Cosmic Collection, an astrology-themed beauty box in collaboration with Susan Miller of AstrologyZone.com. Priced at $35, each limited-edition box contains products curated for the four elemental signs, with a retail value exceeding $150. These boxes include wellness items from brands like Glow Recipe and Heritage Store, targeting InStyle's audience interested in astrology, a growing content area that garners around 600,000 views monthly. Available for purchase, the initiative aims to enhance InStyle's e-commerce presence.
Meredith Corporation (NYSE: MDP) reported fiscal 2022 Q1 results, showing a 2% increase in total revenues to $708.6M, driven by a 24% growth in digital revenue, totaling $200M. However, net earnings fell 41% to $24.8M. Adjusted EBITDA decreased 13% to $124.7M. The company is on track to finalize two significant transactions: a $2.825B sale of its Local Media Group and a $2.7B sale of its remaining operations to Dotdash. These strategic moves aim to enhance shareholder value as part of its restructuring.
Meredith Corporation (NYSE: MDP) will release its fiscal 2022 first-quarter results on October 28, 2021. The company will not hold a conference call due to ongoing transactions with Gray Television and IAC. Meredith operates a multi-platform media and marketing business, engaging 190 million Americans through trusted brands like PEOPLE and Better Homes & Gardens. The Local Media Group includes 17 TV stations in major markets, enhancing its competitive position.
On October 14, 2021, Meredith Corporation (NYSE: MDP) announced the winners of the 2021 SHAPE Well Tech Awards, featuring innovative products that enhance wellness routines. The awards, highlighted in the November issue of SHAPE magazine, recognize technology-driven items spanning fitness, beauty, and more. The winners include the LightStim for Pain and Technogym MyRun Treadmill. This initiative showcases SHAPE's commitment to providing valuable wellness solutions.
impact.com has released two reports highlighting the growth potential of commerce content for brands and publishers. Brands engaging with at least 20 content partners are twice as likely to see revenue increases. Moreover, 65% of brands consider commerce content a vital strategy, with 40% planning budget increases. Publishers anticipate revenue growth of 25% annually, with Meredith reporting over 100% year-over-year growth in affiliate revenue. The trend indicates a shift towards commerce content as a significant marketing strategy, benefiting brand awareness and customer engagement.
The launch of NEXTGEN TV in Hartford marks a significant upgrade in broadcast technology for local viewers. This new digital broadcast technology enhances the viewing experience with features like 4K resolution, HDR video, and improved audio quality. Four local channels, including TEGNA's WCCT and WTIC, and others from Meredith and Nexstar Media Group, are now available over-the-air free of charge. With compatibility across select devices from manufacturers such as LG and Samsung, NEXTGEN TV is designed to evolve with future updates, promising a more interactive and engaging viewing experience.
On October 8, 2021, Meredith Corporation (NYSE: MDP) announced the release of PARENTS' list of the Best Apps for Kids, featuring 24 educational app winners. This annual list aims to provide engaging learning options for children during the school season. The selected apps meet strict criteria, including being ad-free and having no in-app purchases. Categories covered include Geography, STEM, Reading, Puzzles, and Social Skills. PARENTS, with a monthly reach of over 9.3 million readers, continues to deliver trusted parenting advice through various platforms.
IAC's Dotdash has announced an agreement to acquire Meredith Corporation's National Media Group for $42.18 per share in an all-cash transaction. This deal aims to combine Dotdash's digital publishing expertise with Meredith's iconic brand portfolio, creating one of the largest publishers in the U.S. The combined entity, named Dotdash Meredith, is expected to reach 175 million online consumers monthly. The transaction is anticipated to close by the end of the year, funded by a mix of cash and new debt, with both companies' boards approving the agreement.
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