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16 Facts About Meredith Corporation
Edwin Thomas Meredith founded the company in 1902 when he began publishing Successful Farming magazine.
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In 1922, Meredith Corporation began publishing Fruit, Garden and Home magazine, a home and family service publication.
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In 1987, Meredith Corporation made a deal that they would purchase MMT Sales for $40 million, and would represent national advertising spot time on 60 stations across the entire US country.
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Also in January 2015, Meredith Corporation acquired Shape, Natural Health and Fit Pregnancy from American Media Inc Fitness magazine was folded into Shape, while retaining its website.
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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 Corporation 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.
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Meredith Corporation felt that, despite their "strong consumer reach, " these brands did not align with its core lifestyle properties.
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In November 2018, Meredith Corporation announced the sale of Fortune to Thai businessman Chatchaval Jiaravanon, whose family owns Charoen Pokphand, for $150 million.
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In May 2019, Meredith Corporation announced the sale of Sports Illustrated to Authentic Brands Group, for $110 million.
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In October 2019, Meredith Corporation sold the Money brand and website to Ad Practitioners LLC, a media and advertising company based in Puerto Rico.
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On May 3,2021, Meredith Corporation announced an agreement with Gray Television for the latter to acquire Meredith Corporation's television division.
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The transaction will be structured as a spin-off of a new Meredith Corporation, containing the magazines division, to existing shareholders, to be immediately followed by the old Meredith being acquired by Gray for $2.
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Meredith Corporation has struck deals to acquire ABC affiliate WGGB in Springfield, Massachusetts from Gormally Broadcasting for $53.
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