• by Erik Sass  @eriksass1, November 1, 2010

Continuing its evolution into a cross-platform media and marketing operation, Meredith Corp. has created a new division, the Emerging Markets Group, to house some of its recently acquired marketing businesses.

The EMG's divisions include New Media Strategies, a social-media marketer acquired by Meredith in January 2007, and The Hyperfactory, the mobile marketing agency acquired in July 2010. (Meredith owned a partial stake in The Hyperfactory before that).

Meredith's EMG will be headed by Pete Snyder, currently the CEO of New Media Strategies, who will continue in that role while working with Hyperfactory CEO Derek Handley on strategy, sales and marketing. The EMG is part of Meredith Integrated Marketing, and Snyder will continue to report to IM president Martin Reidy, who noted that "social media and mobile marketing are the fastest-growing marketing channels within the red-hot digital space."

The company hinted that new acquisitions are a distinct possibility, as Meredith looks to expand its Integrated Marketing division through organic growth or purchases of additional companies.

Over the last half-decade, Meredith has also acquired O'Grady Meyers, which handles customer-relationship marketing and Web site development, in April 2006; Genex, an interactive marketing services firm specializing in online customer relationship marketing, in January 2007; Directive, which specializes in database and analytics, in October 2007; and Big Communications, specializing in health-care marketing, in June 2008.

The Integrated Marketing division, which includes all these companies, has been a revenue driver for Meredith over the last couple years, due to a combination of acquisitions and organic growth. From 2007-2009 total revenues rose 70% to $170 million, increasing from about 6% of Meredith's total revenues to 12% over that period.

In the company's 2010 fiscal year (which ended in June), IM's revenues dipped 7% to $158 million, reflecting the broader economic downturn, and representing just over 11% of the company's total revenues.

Also on Monday, Meredith announced the appointment of Jack Goldenberg as senior vice president and chief technology officer, with responsibility for creating a technology strategy to support Meredith's rapidly expanding digital content, advertising and marketing operations.

Goldenberg previously served as chief technology officer of Dow Jones' enterprise media group, where he launched the Dow Jones Investment Banker and Dow Jones Adviser digital products.