If consummated, the deal, expected to be valued at $2.5 billion-plus, would transform IAC's publishing division--which currently has just 14 brands--with Meredith's numerous iconic brands, including People, Better Homes & Gardens. Meredith's digital advertising revenues now exceed its print ad revenues.

Mark Eamer, head of the ad-supported streaming service, which has been doubling down on original content, is leaving,according to The Information.