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IAC/INTERACTIVECORP

(IAC)
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IAC/InterActiveCorp : in talks to buy magazine publisher Meredith -WSJ

09/23/2021 | 07:19pm EDT

Sept 23 (Reuters) - IAC/InterActiveCorp is in advanced talks to buy magazine publisher Meredith Corp at a valuation expected to be over $2.5 billion, the Wall Street Journal reported on Thursday.

Television mogul Barry Diller-owned IAC could strike a deal with Meredith in the next few days, the Journal said, adding the talks could still fall apart.

Meredith's magazine brands, which include People, Better Homes & Gardens and Allrecipes, would compliment and expand IAC's collection of digital publications such as Investopedia, Serious Eats and Brides.

Both companies declined to comment.

Meredith Corp had agreed to sell its television stations business to broadcaster Gray Television Inc for an enterprise value of $2.7 billion earlier this year.

(Reporting by Shubham Kalia, additional reporting by Nishit Jogi in Bengaluru; Editing by Krishna Chandra Eluri)


© Reuters 2021
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Analyst Recommendations on IAC/INTERACTIVECORP
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Financials (USD)
Sales 2021 3 371 M - -
Net income 2021 455 M - -
Net cash 2021 3 191 M - -
P/E ratio 2021 31,1x
Yield 2021 -
Capitalization 13 594 M 13 594 M -
EV / Sales 2021 3,09x
EV / Sales 2022 2,63x
Nbr of Employees 8 200
Free-Float 86,1%
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Technical analysis trends IAC/INTERACTIVECORP
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 16
Last Close Price 152,34 $
Average target price 172,73 $
Spread / Average Target 13,4%
EPS Revisions
Managers and Directors
Joseph M. Levin Chief Executive Officer & Director
Barry Charles Diller Chairman
Chelsea Clinton Independent Director
Michael D. Eisner Independent Director
Bonnie S. Hammer Independent Director
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