Product Details
| Company |
Meredith Corporation |
| Certificate Type |
Common Stock
|
| Date Issued |
February 24, 1987
|
| Canceled |
Yes
|
| Printer |
American Bank Note Company
|
| Signatures |
Machine printed
|
|
Approximate Size
|
12" (w) by 8" (h)
|
Product Images
|
Show the exact certificate you will receive |
|
Authentic
|
Yes
|
| Additional Details |
NA
|
Historical Context
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.
In 1924, the magazine was retitled Better Homes and Gardens, and the first issue cost a dime on the newsstand.
By 1928, the company had circulation of 2.5 million.
In 1930, the company published the first edition of The Better Homes and Gardens Cook Book.
In 1946, the company became a public company. It was listed on the New York Stock Exchange in 1965.
In March 2012, Meredith acquired allrecipes.com from Reader's Digest Association for $175 million.
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.
In January 2015 Shape, Natural Health and Fit Pregnancy from American Media Inc. Fitness magazine was folded into Shape, while retaining its website.
In February 2013, Meredith and Time Warner held discussions on a possible purchase of Time Inc.; Time Warner at the time elected to spin it out as a separate company instead.
On September 8, 2015, Media General announced its intent to acquire Meredith in a cash and stock deal valued at $2.4 billion. Pending regulatory and shareholder approval, the deal was expected to be consummated in June 2016. The combined company would have operated under the name Meredith Media General, and be the third-largest owner of television stations in the United States—serving an estimated 30% of households. To comply with FCC ownership limits, the company would have divested and/or swapped stations in six markets. Media General shareholders would have controlled 65% of the company, with Meredith shareholders holding 35%. However, the offer was countered by Nexstar Broadcasting Group, who made a successful, $4.6 billion bid to acquire Media General instead.
In February 2017, it was reported that Meredith and a group of investors led by Edgar Bronfman Jr. were considering another possible purchase of Time Inc. On November 26, 2017, it was announced that Meredith Corporation would acquire Time Inc. in a $2.8 billion deal. $640 million in backing was provided by Koch Equity Development, but the Koch family would not have a board seat or otherwise influence the company's operations.
On January 9, 2018, it was announced that Meredith would launch a Hungry Girl magazine on January 16, expanding from the online brand.
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 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. Meredith felt that, despite their "strong consumer reach," these brands did not align with its core lifestyle properties. Howard Milstein had announced on February 7, 2018, that he would acquire Golf Magazine from Meredith, and Time Inc. UK was sold to the British private equity group Epiris (later rebranded to TI Media) in late February. In September 2018, Meredith announced the sale of Time to Marc Benioff and his wife Lynne for $190 million. In November 2018, Meredith announced the sale of Fortune to Thai businessman Chatchaval Jiaravanon, whose family owns Charoen Pokphand, for $150 million.
Time Inc. Productions was renamed Four M Studios in May 2018. The studios is under Bruce Gersh, Meredith's president of People, Entertainment Weekly and People en Español and head of Four M Studios.
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