Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

IAC's Dotdash to buy magazine publisher Meredith in $2.7 bln deal

10/06/2021 | 05:22pm EST

Oct 6 (Reuters) - IAC's digital media arm Dotdash on Wednesday agreed to buy Meredith Corp in a deal valued at about $2.7 billion, bringing titles such as People, Allrecipes and Investopedia under one umbrella.

The combined company is to be called Dotdash Meredith and will be led by Dotdash top boss Neil Vogel, the companies said.

The deal will combine Meredith's more than 40 brands including Better Homes & Gardens, Southern Living and InStyle magazines with Dotdash's digital labels such as The Spruce, Byrdie and Brides.

In June, Meredith had accepted a revised proposal from broadcast firm Gray Television Inc to buy Meredith's television stations business for about $2.83 billion.

Dotdash will buy the remaining portion of Meredith, primarily its magazines unit National Media Group, in an all-cash transaction of $42.18 per share.

On its own, Dotdash currently reaches about 100 million online consumers monthly and its collection of 14 media brands in health, finance and lifestyle are among the fastest growing media brands online. It is one of the rapidly expanding businesses in parent IAC's portfolio.

Television mogul Barry Diller-owned IAC, which is known to build businesses and later list them on the stock market, has successfully spun off online video platform Vimeo and Match Group, owner of online dating services including Tinder and Hinge.

Shares of IAC were up 6.7% at $140.55, while those of Meredith rose 5% to $57.7 in extended trading.

The deal comes four years after Meredith, backed by conservative billionaire brothers Charles and David Koch, acquired Time Inc https://reut.rs/3atR00Z, the publisher of People, Sports Illustrated and Fortune magazines.

The publisher has since sold some titles like Time, Fortune, Money and Sports Illustrated that primarily attracted male readership as it turned its focus on its core women's magazines. (Reporting by Manas Mishra and Subrat Patnaik in Bengaluru; Editing by Shailesh Kuber)

ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
IAC/INTERACTIVECORP -0.43% 127.06 Delayed Quote.-32.20%
MATCH GROUP, INC. -1.63% 126.19 Delayed Quote.-16.54%
VIMEO, INC. 0.33% 18.47 Delayed Quote.0.00%
All news about MATCH GROUP, INC.
12/02WELCOME TO THE TINDERVERSE : Tinder's CEO talks metaverse, virtual currency
12/02Dating app CEO takes us through the Tinderverse
12/01Match Group to pay Tinder founders $441 million to settle lawsuit
12/01MATCH GROUP, INC. : Other Events (form 8-K)
11/30MarketScreener's World Press Review - November 30, 2021
11/26MarketScreener's World Press Review - November 26, 2021
11/26EMEA MORNING BRIEFING : Stocks to Drop as New -2-
11/19MarketScreener's World Press Review - November 19, 2021
11/10Epic Games chief to speak in S.Korea as Google, Apple face app store challenge
11/09SINGLES IN AMERICA : Match Releases Largest Study on US Single Population for 11th Year
More news
Analyst Recommendations on MATCH GROUP, INC.
More recommendations
Financials (USD)
Sales 2021 3 023 M - -
Net income 2021 613 M - -
Net Debt 2021 3 188 M - -
P/E ratio 2021 64,8x
Yield 2021 -
Capitalization 35 723 M 35 723 M -
EV / Sales 2021 12,9x
EV / Sales 2022 10,5x
Nbr of Employees 1 890
Free-Float 97,0%
Duration : Period :
Match Group, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MATCH GROUP, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 126,19 $
Average target price 171,57 $
Spread / Average Target 36,0%
EPS Revisions
Managers and Directors
Sharmistha Dubey Chief Executive Officer & Director
Gary Swidler Chief Operating & Financial Officer
Thomas J. McInerney Chairman
Stephen Bailey Independent Director
Melissa Brenner Independent Director
Sector and Competitors
1st jan.Capi. (M$)
MATCH GROUP, INC.-16.54%35 723
FACEBOOK INC12.33%853 555
TWITTER, INC.-22.31%33 577
BUMBLE INC.0.00%4 102
GREE, INC.45.29%1 496