The Wall Street Journal reported late Thursday night that digital media holding company IAC Meredith, led by Barry Dealer, is the top bidder for magazines and digital business.
Meredith’s brands focus on women-oriented audiences, including People, EW, Instyle, Shape, Food & Wine, Better Homes & Gardens, Allrecips & Parents. The deal will not include Meredith’s local TV business, which Meredith has agreed to for গ্রে 2.7 billion on Gray Television. The WACJ reports that the IAC “has led Meredith’s rival to another group.”
Representatives from the IAC and Meredith declined to comment, citing a policy of not commenting on “rumors or speculation.”
“In our view, the IAC focuses primarily on Meredith’s digital media assets, which will complement the IAC’s dotdash online publishing business,” Coin analyst John Blacklage wrote in an unconfirmed report in a research paper on Friday.
Meredith’s digital business generated nearly 700 million for the 12 months ending in the second quarter of 2021, and Meredith’s magazine division grossed 1. 1.3 billion. By comparison, DotDash earned 4 264 million at the same time. “This agreement will add a significant dimension to the IAC’s already strong digital media business,” Blacklase commented.
The IAC recently shut down the video hosting and publishing division Vimeo, dating company App Match Group after a similar deal last year.
“What we’re seeing is dotdash, implemented as a best-in-class method of open-internet monetization, relying on slim-down ad loads and improved page speed to generate organic traffic,” Blacklage wrote. Coordinating revenue on Meredith through the implementation of dotdash playbook aspects. ”
Founded in 1902, Meredith closed Time Inc. in 2018 for 1. 1.85 billion (excluding debt), funded by politically conservative brothers Charles and David Koch. Meredith has since sold Time Magazine (to Salesforce CEO Mark Benioff), as well as Sports Illustrated, Fortune and Money.