Popular:

Meredith agrees to buy the Time group for 2,800 million dollars

Media conglomerate Meredith Corporation today announced the closing of an agreement to buy the Time group, in an operation valued at about 2,800 million dollars.

New York, Nov 27 (EFE) .- The media conglomerate Meredith Corporation announced today the closing of an agreement to buy the Time group, in an operation valued at about 2,800 million euros. dollars.

Under the terms of the agreement, Meredith will pay $ 18.50 in cash for each Time share, according to a statement.

The operation was unanimously approved by the boards of Meredith and Time and both companies expect it to close in the first quarter of 2018.

The new resulting group will have some Combined revenues of $ 4.8 billion, of which $ 2.7 billion come from advertising.

"We are creating a first-class media group with almost 200 million dollars. consumers positioned to continue growing, "said Meredith CEO Stephen Lacy.

He stressed that the company will become a" powerful digital business "with about 170 Millions of unique visits per month and more than 10 billion annual video views.

Meredith, based in Des Moines (Iowa, USA), has a total of twenty-six cooking, fashion, decoration, gardening, bricolage and family life, oriented in general to the female audience.

Time, meanwhile, separated from the giant Time Warner in 2014 and gathers more than ninety titles, some as illustrious as the magazines Time, Sports Illustrated or People.

Meredith shares soared 11.07% on the New York Stock Exchange today, while the Time's stock rose by 9.17% in the same market.

Comments 0

?
No comments for this article yet!
EUR/USD

EURUSD=X

1.1747 -0,00 -0,24%
USD/CHF

CHF=X

0.9581 -0,00 -0,09%
GBP/USD

GBPUSD=X

1.3067 -0,02 -1,54%
USD/JPY

JPY=X

112.5670 +0,09 +0,08%
USD/CNH

CNH=X

6.8451 +0,01 +0,15%
USD/CAD

CAD=X

1.2912 +0,00 +0,06%
IBEX 35

^IBEX

9590.40 +6,70 +0,07%
IBEX MEDIUM..

INDC.MC

15377.30 -38,40 -0,25%
IBEX SMALL ..

INDS.MC

7490.80 +5,90 +0,08%
IBEX TOP DI..

INDD.MC

3047.90 +1,80 +0,06%
FTSE LATIBE..

INDB.MC

1249.20 +9,20 +0,74%
FTSE LATIBE..

INDL.MC

8444.10 +226,10 +2,75%
Abertis Inf..

ABE.MC

18.36 +0,00 +0,00%
Actividades..

ACS.MC

37.83 +1,03 +2,80%
Acerinox, S..

ACX.MC

12.24 -0,03 -0,24%
AENA, S.A.

AENA.MC

150.45 +4,75 +3,26%
Amadeus IT ..

AMS.MC

78.26 +0,46 +0,59%
Acciona, S...

ANA.MC

75.86 -0,12 -0,16%
Financial S..

XLF

28.74 -0,11 -0,39%
VanEck Vect..

GDX

18.78 -0,15 -0,79%
SPDR S&P 50..

SPY

291.99 -0,22 -0,07%
Vanguard FT..

VWO

41.80 +0,17 +0,41%
Direxion Da..

TZA

8.24 +0,12 +1,48%
Utilities S..

XLU

53.06 +0,22 +0,43%
Cookies help us to offer our services.
Reset Password