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.
|Traded as||NYSE: MDP|
S&P 400 Component
|Founder||Edwin T. Meredith|
|Headquarters||Des Moines, Iowa|
|Revenue||$2.247 billion (FY 2018)|
|$0.099 billion (FY 2018)|
|Total assets||$6.727 billion (FY 2018)|
|Total equity||$1.097 billion (FY 2018)|
Number of employees
|Footnotes / references|
- 1 History
- 2 Divisions
- 3 Four M Studios
- 4 See also
- 5 References
- 6 Further reading
- 7 External links
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, and the first issue cost a dime on the newsstand. 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. 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.
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.
In November 2014, Meredith acquired mywedding.com. In January 2015, the company acquired Selectable Media. Also in January 2015, Meredith acquired Shape, Natural Health and Fit Pregnancy from American Media Inc. Fitness magazine was folded into Shape, while retaining its website.
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%. However, the offer was countered by Nexstar Broadcasting Group, who made a successful, $4.6 billion bid to acquire Media General instead.
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. 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.
On January 9, 2018, it was announced that Meredith would launch a Hungry Girl magazine on January 16, expanding from the online brand.
On January 31, 2018, the company completed the acquisition of Time Inc. 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. Howard Milstein had announced on February 7, 2018, that he would acquire Golf Magazine from Meredith, and Time Inc. UK was sold to the British private equity group Epiris (later rebranded to TI Media) in late February. In September 2018, Meredith announced the sale of Time to Marc Benioff and his wife Lynne for $190 million. In November 2018, Meredith announced the sale of Fortune to Thai businessman Chatchaval Jiaravanon, whose family owns Charoen Pokphand, for $150 million. In May, 2019, Meredith announced the sale of Sports Illustrated to Authentic Brands Group, for $110 million.
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.
Meredith magazines include the following brands:
- 25 Beautiful Homes
- Ageless Iron
- Allrecipes Magazine
- American Baby
- American Patchwork & Quilting
- Better Homes and Gardens
- Country Life
- Diabetic Living
- Eat This, Not That
- Entertainment Weekly (from Time Inc.)
- Every Day with Rachael Ray
- Family Circle
- Food & Wine
- InStyle (from Time Inc.)
- Living the Country Life
- Midwest Living
- Parents (and Ser Padres)
- People (from Time Inc.)
- Practical Boat Owner
- Real Simple (from Time Inc.)
- Siempre Mujer
- Southern Living
- Successful Farming
- Traditional Home
- Travel + Leisure (from Time Inc.)
Defunct magazines include:
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.
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. The purchase of KMOV was completed on February 28, 2014, while the KTVK sale was completed on June 19.
Meredith has also struck deals to acquire ABC affiliate WGGB in Springfield, Massachusetts from Gormally Broadcasting for $53.8 million and Fox affiliate WALA in Mobile, Alabama from LIN Media for $86 million.
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.
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.
Current Meredith-owned stationsEdit
- (**) 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.
|City of license / Market||Station||Channel
|Owned since||Network affiliation|
|Hartford - New Haven||WFSB||3 (33)||1997||CBS|
|WPCH-TV||17 (20)||2017 1||Independent|
(semi-satellite of WFSB)
|Bay City - Flint - Saginaw, MI||WNEM-TV||5 (22)||1969||CBS|
|Kansas City, Missouri||KCTV||5 (24)||1953||CBS|
|St. Louis||KMOV||4 (24)||2014||CBS|
|Henderson - Las Vegas, NV||KVVU-TV||5 (9)||1985||Fox|
|Portland, OR - Vancouver, WA||KPTV||12 (12)||2002||Fox|
|KPDX ‡‡||49 (30)||1997||MyNetworkTV|
(semi-satellite of KPDX)
|Greenville - Spartanburg - Asheville||WHNS ‡‡||21 (21)||1997||Fox|
- 1 Between 2009 and 2017, Meredith operated WPCH through a local marketing agreement when the station was owned by Time Warner subsidiary Turner Broadcasting System. On February 23, 2017, Meredith announced its intention to purchase the station from Time Warner prior to the latter's merging with AT&T.
Former Meredith-owned stationsEdit
|City of license / Market||Station||Channel
|Years owned||Current ownership status|
|Phoenix||KASW||61 (49)||1||The CW affiliate owned by the E. W. Scripps Company|
|Fresno||KSEE||24 (38)||1984–1993||NBC affiliate owned by Nexstar Media Group|
|Ocala - Gainesville, FL||WOGX
(semi-satellite of WOFL)
|51 (31)||1996–2002||Fox owned-and-operated (O&O)|
|Orlando - Daytona Beach||WOFL||35 (22)||1983–2002||Fox owned-and-operated (O&O)|
|WCPX-TV ‡‡||6 (26)||1997 2||CBS affiliate, WKMG-TV, owned by Graham Media Group|
|Omaha||WOW-TV||6 (22)||1951–1975||NBC affiliate, WOWT, owned by Gray Television|
|Syracuse, New York||WHEN-TV/WTVH **||5 (47)||1948–1993||CBS affiliate owned by Granite Broadcasting|
(operated under an SSA by Sinclair Broadcast Group)
|Bend, Oregon||KFXO-LD||39 (39)||1997–2007||Fox affiliate owned by News-Press & Gazette Company|
|Pittsburgh||WPGH-TV||53 (43)||1978–1986||Fox affiliate owned by Sinclair Broadcast Group|
|Cleveland - Chattanooga, TN||WFLI-TV||53 (42)||2004–2008||The CW affiliate owned by MPS Media|
(operated under SSA by New Age Media)
|Seattle-Tacoma||KCPQ-TV||13||1998–1999 3||Fox affiliate owned by Nexstar Media Group|
- 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, 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 Broadcasting for WGCL.
|AM Stations||FM Stations|
|City of License/Market||Station/Frequency||Years owned||Current ownership status|
|Phoenix||KPHO 910||1952–1972||KGME, owned by iHeartMedia|
|Kansas City, Missouri||KCMO 810||1953–1983||WHB, owned by Union Broadcasting|
(KCMO is now at 710 AM)
|KCMO-FM 94.9||1953–1983||owned by Cumulus Media|
|Omaha||WOW 590||1951–1983||KXSP, owned by SummitMedia|
|WOW-FM 92.3||1951–1983||KEZO-FM, owned by SummitMedia|
|Syracuse, New York||WHEN 620||1954–1976||owned by iHeartMedia|
|Bridgeport, Michigan||WNEM 1250||2004–2013||WJMK, owned by Northern States Broadcasting|
Four M StudiosEdit
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. 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.
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.
Four M Studios partnered with Imagine Entertainment's Imagine Kids & Family division. Its first project from the partnership is LIFE for Kids, a children's TV show using LIFE Magazine’s photo archive.
- 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 each
- A Year in Space (PBS) Emmy-winning
- Cultureshock (A&E) pop culture docuseries from Entertainment Weekly
- 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
- Sports Illustrated: True Crime pilot working title (Paramount Network) Jerry Bruckheimer TV
- Entertainment Weekly: The Bullseye pilot(Paramount Network) Conveyor Media
- 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
- "Meredith Corporation FY 2018 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- "Timeline: Meredith Corp. history". The Des Moines Register. September 8, 2015.
- "Edwin T. Meredith". NNDB.
- "Meredith Completes Acquisition of Allrecipes.com From Reader's Digest" (Press release). PR Newswire. March 1, 2012.
- Rubin, Ben Fox (January 24, 2012). "Meredith to Buy AllRecipes.com". The Wall Street Journal. ISSN 0099-9660.
- Steigrad, Alexandra (February 5, 2014). "Time Inc. Lays Out Restructuring". WWD. Retrieved February 5, 2014.
- Lauria, Peter (February 13, 2013). "Time Warner in talks with Meredith on magazines: source". Reuters. Retrieved February 20, 2013.
- Haughney, Christine (October 15, 2014). "Martha Stewart's Magazines to Outsource Business Side to Meredith". The New York Times. ISSN 0362-4331.
- Trachtenberg, Jeffrey A. (October 15, 2014). "Martha Stewart Magazines to Be Licensed to Meredith Corp". The Wall Street Journal. ISSN 0099-9660.
- "Meredith Adds To Growing Presence In Wedding Marketplace With Acquisition Of Rapidly Growing Mywedding.com Brand" (Press release). PR Newswire. November 17, 2014.
- O'Shea, Chris (November 17, 2014). "Meredith Buys Mywedding.com". AdWeek.
- "Meredith Expands Digital Capabilities With Acquisition Of Selectable Media" (Press release). PR Newswire. January 6, 2015.
- Bill Mickey (2015-01-28). "Meredith Buys Shape From AMI for $60 Million". Folio. Retrieved 2015-03-09.
- "Media General to Acquire Meredith Corp. in $2.4B Deal to Create TV Station Giant". The Hollywood Reporter. Retrieved 2019-10-29.
- "Media General to Buy Meredith Corp. for $2.4 Billion". The Wall Street Journal. September 8, 2015. Retrieved September 8, 2015.
- Lieberman, David (2017-01-11). "FCC Approves Nexstar's $4.6B Acquisition Of Media General". Deadline. Retrieved 2018-04-21.
- A. Trachtenberg, Jeffrey (February 7, 2017). "Meredith, Bronfman Move Forward in Effort to Acquire Time Inc". The Wall Street Journal. Retrieved February 8, 2017.
- Danner, Chas (2017-11-26). "Meredith, Backed by Koch Brothers, Acquires Time Inc. for $2.8 Billion". Intelligencer. Retrieved 2019-10-29.
- Nyren, Erin; Littleton, Cynthia (November 26, 2017). "Meredith Corp. Acquires Time Inc. in $2.8 Billion Koch Brothers-Backed Deal". Variety. Retrieved November 27, 2017.
- Ember, Sydney; Ross, Andrew (November 26, 2017). "Time Inc. Sells Itself to Meredith Corp., Backed by Koch Brothers". The New York Times. Retrieved November 27, 2017.
- Hardy, Kevin (January 9, 2018). "Meredith launches new Hungry Girl magazine". Des Moines Register. Retrieved January 15, 2018.
- "Meredith Corporation Announces Completion Of Time Inc. Acquisition And Reports Fiscal 2018 Second Quarter And First Half Results" (Press release). PR Newswire. January 31, 2018.
- Hays, Kali (February 1, 2018). "Time Inc., Now Meredith and More Changes to Come". Women's Wear Daily. Retrieved February 10, 2018.
- Gold, Howard R. (February 1, 2018). "Who killed Time Inc.?". Columbia Journalism Review. Retrieved February 10, 2018.
- Spangler, Todd (2018-03-21). "Meredith Laying Off 1,200, Will Explore Sale of Time, SI, Fortune and Money Brands". Variety. Retrieved 2018-03-22.
- "Banker shells out big bucks to buy Golf Magazine". New York Post. 2018-02-08. Retrieved 2018-03-22.
- Sweney, Mark (2018-02-26). "Marie Claire publisher Time Inc UK sold to private equity group". the Guardian. Retrieved 2018-03-22.
- "Marc and Lynne Benioff will buy Times magazine from Meredith for $190M". TechCrunch. Retrieved 2018-09-17.
- NUSCA, ANDREW (November 9, 2018). "FORTUNE Sells to Thai Businessman for $150 Million". Fortune.
- Hauser, Christine; Lee, Edmund (November 9, 2018). "Fortune Magazine Sold to Thai Businessman for $150 Million". The New York Times.
- "Meredith Corporation Announces Sale of Sports Illustrated to ABG for $110 million". May 27, 2019.
- Otterson, Joe (May 15, 2018). "Time Inc. Productions Rebrands as Four M Studios (EXCLUSIVE)". Variety. Retrieved November 9, 2018.
- "Archived copy". Archived from the original on 2015-01-28. Retrieved 2015-08-25.CS1 maint: archived copy as title (link)
- "Archived copy". Archived from the original on 2015-09-12. Retrieved 2015-08-25.CS1 maint: archived copy as title (link)
- Pursell, Chris (January 2008). "Meredith Speeds Up 'Better' Rollout". TV Week. Retrieved January 19, 2011.
- "Meredith to Expand TV Portfolio with Deal to Add Stations in Phoenix, St. Louis" (Press release). PR Newswire. December 23, 2013.
- Brown, Lisa (February 28, 2014). "Meredith Corp. closes on $177 million purchase of KMOV". St. Louis Post-Dispatch. Retrieved February 28, 2014.
- Gannett-Sander Complete Phoenix Sale, TVNewsCheck, Retrieved 19 June 2014.
- Malone, Michael (19 June 2014). "Meredith to Acquire WGGB Springfield, Mass". Broadcasting & Cable. Retrieved 9 September 2014.
- Staff. "Media General, LIN Sell Stations In 5 Markets".
- "Why Sinclair Won't Buy Cox". Retrieved 10 November 2018.
- "Cox Enterprises Mulls Selling 14 TV Stations". Retrieved 10 November 2018.
- "Meredith, Scripps Could Make a Play for Cox". Retrieved 10 November 2018.
- "Meredith to explore sale of its U.S. broadcast stations: sources". Reuters. 2019-05-01. Retrieved 2019-05-02.
- Swartz, Kristi E. (January 18, 2011). "Parent of CBS Atlanta to take over operations of Peachtree TV". Atlanta Journal-Constitution. Retrieved January 18, 2011.
- Rodney Ho (February 23, 2017). "Meredith purchases Peachtree TV from Time Warner/Turner Broadcasting System". Atlanta Journal-Constitution. Cox Enterprises. Retrieved February 25, 2017.
- "Meredith To Purchase Channel 6".
- Applefeld Olson, Cathy (January 11, 2018). "At Time Inc. Productions, It's All About the Brands - Cynopsis Media". Cynopsis Media. Retrieved November 9, 2018.
- "Paramount Network, Time Inc. Productions Announce Collaboration". TVWeek. October 30, 2017. Retrieved November 9, 2018.
- Sippell, Margeaux (January 16, 2019). "TV Roundup: Syfy Drops First Trailer for Season 2 of 'Happy!'". Variety. Retrieved September 23, 2019.
- Stanhope, Kate (February 13, 2017). "Princess Diana Documentary in the Works at ABC". The Hollywood Reporter. Retrieved November 9, 2018.
- Alcinii, Daniele (August 9, 2018). "Bruce Gersh on Four M Studios' unscripted strategy". Realscreen. Retrieved November 10, 2018.