Meredith Corp. Buys

allrecipesMeredith Corp. is continuing its buying spree with its acquisition of digital food site from The Reader’s Digest Association, significantly boosting Meredith’s digital reach among the female audience. The transaction was valued at $175 million, and is expected to close later this quarter.

The acquisition of should more than double the audience of the Meredith Women’s Network, to around 40 million unique visitors per month, according to the company, and should also double its advertising revenues.

The platform’s mobile apps have been downloaded by over 11 million consumers, and it also hosts the top food channel on YouTube. According to Meredith,’s U.S. audience is 70% female, with a mean household income of $73,000 -- and includes nine out of 10 primary decision-makers for grocery purchases.



More broadly, the acquisition of will give Meredith a new potential customer pool for marketing print and tablet magazine subscriptions, as well as e-commerce opportunities, including foreign audiences that visit 17 sites in 22 countries around the world.

It also gives other Meredith properties access to’s in-house SEO expertise.

The acquisition represents a significant addition to Meredith’s growing portfolio of food-related properties and women’s interest publications in general. In October of last year, the company acquired cooking mag Every Day With Rachael Ray and its related digital properties from the Reader’s Digest Association.

Last week, Meredith completed the acquisition of FamilyFun from Disney Publishing Worldwide.

On the Reader’s Digest side, RDA president and CEO Robert Guth said the deal represents “a significant step forward in our commitment to focus our resources on our core businesses, such as the Reader’s Digest brand.”

Meredith Corp. also announced its fourth-quarter results, which showed total revenues declining 10% from $366 million in 2010 to $329 million in 2011. The decline was attributed to the absence of political advertising related to 2010’s midterm elections and continuing weakness in magazine advertising demand.

Total revenues at Meredith’s local (broadcast TV) group declined from $97 million to $84 million; revenues at the national (magazine) group declined from $268 million to $244 million.

3 comments about "Meredith Corp. Buys".
Check to receive email when comments are posted.
  1. anderson danna from catalink, January 24, 2012 at 12:41 p.m.

    The site is absolutely admirable for having great recipes like the they both have fantastic recipes that’s for sure . Me as an individual truly adore those sites.

  2. Clare Crowhurst from AOL, March 1, 2012 at 8:03 p.m.

    I wonder how much million dollars will it take for or to be brought.

  3. jhazmine ver from AT&T, July 10, 2012 at 2:57 a.m.

    Congratulations! got all the different and tasty recipes in the world. But I do hope if you try also glancing at GOURMANDIA. They have lots of exciting and interesting recipes for you to choose from. Try it, you will surely enjoy!

Next story loading loading..