Meredith Corporation

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Meredith Corporation
Public
Traded as NYSEMDP
Industry Media
Founded 1902
Headquarters Des Moines, Iowa
Key people
Steve Lacy, Chairman and CEO
Joseph H. Ceryanec, CFO
John S. Zieser, CDO
Products Newspapers
Magazines
Television
Educational Services
Websites
Revenue US$1.47 billion (2013)
Number of employees
3,900 (2015)[1]
Slogan We inspire. She makes it happen.
Website www.meredith.com

The Meredith Corporation is an American media conglomerate based in Des Moines, Iowa, USA. The company has two divisions, National Media and Local Media.

History[edit]

Former logo from 1960s to 2009

Edwin Thomas Meredith founded the company in 1902 when he began publishing Successful Farming magazine. In 1922, Meredith began publishing Fruit, Garden and Home magazine, a home and family service publication. Two years later, this magazine was retitled Better Homes and Gardens,[2][3] and the first issue cost a dime on the newsstand. In 1930, they published the first edition of The Better Homes and Gardens Cook Book.

Since then, Meredith has introduced numerous other female-oriented consumer brands and has expanded its reach, through acquisitions and strategic partnerships, to become the leading media and marketing company serving the adult female audience in the United States. The company has extended its media and marketing platform around the globe, through acquisitions and strategic licensing relationships.

In March 2012, Meredith acquired allrecipes.com from Reader's Digest Association.[4]

In February 2013, Meredith and Time Warner were in discussion on whether to sell Time Inc. to Meredith.[5]

In November 2014, Meredith acquired mywedding.com.[6]

In January 2015, Meredith Corporation acquired Selectable Media,[7] and purchased Shape, Natural Health and Fit Pregnancy from American Media Inc.[8]

Magazine Division[edit]

Meredith magazines include the following brands:

Current magazines[edit]

Defunct magazines[edit]

Digital media division[edit]

Broadcast holdings division[edit]

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.[11]

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.[12] The purchase of KMOV was completed on February 28, 2014,[13] while the KTVK sale was completed on June 19.[14]

Meredith has also struck deals to acquire ABC affiliate WGGB in Springfield, Massachusetts from Gormally Broadcasting for $53.8 million[15] and Fox affiliate WALA in Mobile, Alabama from LIN Media for $86 million.[16]

Stations are arranged in alphabetical order by state and city of license.

Current Meredith-owned stations[edit]

City of license / Market Station Channel
TV (RF)
Owned Since Primary affiliation
Mobile WALA-TV 10 (9) 2014 Fox
Phoenix KTVK 3 (24) 2014 Independent
KPHO-TV 5 (17) 1952 CBS
Hartford - New Haven WFSB 3 (33) 1997 CBS
Atlanta[17] WGCL-TV 46 (19) 1999 CBS
Springfield, Massachusetts WSHM-LD
(semi-satellite of WFSB)
3 (21) 2004 CBS
WGGB-TV 40 (40) 2014 ABC
Fox (DT2)
Bay City - Flint - Saginaw, MI WNEM-TV 5 (22) 1969 CBS
MyNetworkTV (DT2)
Kansas City, Missouri KCTV 5 (24) 1953 CBS
KSMO-TV 62 (47) 2005 MyNetworkTV
St. Louis KMOV 4 (24) 2014 CBS
Henderson - Las Vegas, NV KVVU-TV 5 (9) 1985 Fox
Bend, Oregon KUBN-LD
(semi-satellite of KPDX)
43 (43) 2006 MyNetworkTV
Portland, OR - Vancouver, WA KPTV 12 (12) 2002 Fox
KPDX 49 (30) 1997 MyNetworkTV
Greenville - Spartanburg - Asheville WHNS 21 (21) 1997 Fox
Nashville WSMV-TV 4 (19) 1995 NBC

Meredith also operates independent station WPCH-TV (channel 17) in Atlanta under a local marketing agreement with Time Warner subsidiary Turner Broadcasting System.[17]

Former Meredith-owned stations[edit]

Television stations[edit]

City of license / Market Station Channel
TV (RF)
Years Owned Current Ownership Status
Phoenix KASW 61 (49) 1 The CW affiliate owned by Nexstar Broadcasting Group
Fresno KSEE 24 (38) 1984–1993 NBC affiliate owned by Nexstar Broadcasting 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 LMA 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 LMA by New Age Media)
Seattle-Tacoma KCPQ-TV 13 1998-1999 3 Fox affiliate owned by Tribune Broadcasting

Notes:

  • (**) WHEN-TV/WTVH was the only station that was built and signed-on by Meredith.
  • 1 Owned by SagamoreHill Broadcasting, Meredith operated KASW under a shared services agreement.
  • 2 WCPX was acquired with the purchases of KPDX and WHNS but was swapped to its current owner Post-Newsweek Stations for WFSB a day later. Meredith never held control of the station.
  • 3 Acquired solely to be traded to Tribune for WGCL.

Radio stations[edit]

AM Stations FM Stations
City of License/Market Station/
Frequency
Years owned Current Status
Phoenix KPHO-910
(now KGME)
1952–1972 owned by iHeartMedia, Inc.
Kansas City, Missouri KCMO-710
(KCMO is now at 810 AM;
710 AM is now WHB)
1953–1983 owned by Cumulus Media
KCMO-FM-94.9 1953–1983 owned by Cumulus Media
Omaha WOW-590
(now KXSP)
1951–1983 owned by E.W. Scripps Company
WOW-FM-92.3
(now KEZO-FM)
1951–1983 owned by E.W. Scripps Company
Syracuse, New York WHEN-620 1954–1976 owned by iHeartMedia
Bridgeport, Michigan WNEM-1250
(now WHHQ)
2004–2013 owned by Ave Maria Communications

Business deals[edit]

Meredith Corporation has, through acquisitions and strategic partnerships, transformed the company into a "360 degree" media and marketing powerhouse serving the largest audience of female adults of any media company in the United States. John S. Zieser, Chief Development Officer, has led the company on these business activities, from the acquisition of the Parents, Family Circle and Fitness brands from European media conglomerate Bertelsmann in 2005, to the more recent acquisition of several digital and mobile companies which led to expansion of Meredith's high growth "business-to-business" Integrated Marketing division, to large strategic licensing relationships with Walmart and Realogy relating to the Better Homes and Gardens brand. John Zieser also leads and manages the acceleration of Meredith's consumer brands overseas, through over 35 licensing partnerships with leading media partners around the globe.

In March 2012, Meredith completed the acquisition of allrecipes.com from Reader's Digest Association for $175 million.[18][19]

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.[20][21]

In November 2014, a month after inking the licensing deal with Martha Stewart Living Omnimedia, Meredith acquired mywedding.com.[6]

See also[edit]

References[edit]

  1. ^ http://www.nytimes.com/2015/04/22/business/media/meredith-publisher-of-magazines-lays-off-100-as-it-reorganizes.html?ref=media
  2. ^ "Miller Center of Public Affairs University of Virginia". American President Woodrow Wilson/Edwin T. Meredith Secretary of Agriculture. Retrieved 2010-12-12. 
  3. ^ "NNDB". Edwin T. Meredith. Retrieved 2010-12-12. 
  4. ^ "Meredith Significantly Increases Its Digital Scale With Acquisition of Allrecipes.com, World's Top Food Website, From Reader's Digest Association (NYSE:MDP)". ir.meredith.com. Retrieved 2015-08-25. 
  5. ^ Lauria, Peter (February 13, 2013). "Time Warner in talks with Meredith on magazines: source". Reuters Group. Retrieved 20 February 2013. 
  6. ^ a b "Meredith Adds To Growing Presence In Wedding Marketplace With Acquisition Of Rapidly Growing Mywedding.com Brand (NYSE:MDP)". ir.meredith.com. Retrieved 2015-08-25. 
  7. ^ "Meredith Expands Digital Capabilities With Acquisition Of Selectable Media". PRNewswire. January 6, 2015. Retrieved January 7, 2015. 
  8. ^ Bill Mickey (2015-01-28). "Meredith Buys Shape From AMI for $60 Million". Folio:. Retrieved 2015-03-09. 
  9. ^ http://ir.meredith.com/releasedetail.cfm?releaseid=653206
  10. ^ http://ir.meredith.com/releasedetail.cfm?releaseid=883401
  11. ^ Pursell, Chris (January 2008). "Meredith Speeds Up ‘Better’ Rollout". TV Week. Retrieved January 19, 2011. 
  12. ^ Meredith to Expand TV Portfolio with Deal to Add Stations in Phoenix, St. Louis, Meredith press release, December 23, 2013.
  13. ^ Brown, Lisa (February 28, 2014). "Meredith Corp. closes on $177 million purchase of KMOV". St. Louis Post-Dispatch. Retrieved February 28, 2014. 
  14. ^ Gannett-Sander Complete Phoenix Sale, TVNewsCheck, Retrieved 19 June 2014.
  15. ^ Malone, Michael (19 June 2014). "Meredith to Acquire WGGB Springfield, Mass.". Broadcasting & Cable. Retrieved 9 September 2014. 
  16. ^ Staff. "Media General, LIN Sell Stations In 5 Markets". 
  17. ^ a b Swartz, Kristi E. (January 18, 2011). "Parent of CBS Atlanta to take over operations of Peachtree TV". Atlanta Journal-Constitution. Retrieved January 18, 2011. 
  18. ^ "Meredith Completes Acquisition of Allrecipes.com From Reader's Digest (NYSE:MDP)". ir.meredith.com. Retrieved 2015-08-25. 
  19. ^ Rubin, Ben Fox. "Meredith to Buy AllRecipes.com". Wall Street Journal. ISSN 0099-9660. Retrieved 2015-08-25. 
  20. ^ Haughney, Christine (2014-10-15). "Martha Stewart’s Magazines to Outsource Business Side to Meredith". The New York Times. ISSN 0362-4331. Retrieved 2015-08-25. 
  21. ^ Trachtenberg, Jeffrey A. "Martha Stewart Magazines to Be Licensed to Meredith Corp.". Wall Street Journal. ISSN 0099-9660. Retrieved 2015-08-25. 

External links[edit]