Media General To Acquire Meredith: Latter Gets Top Billing in New Meredith Media General

Traditional media giants Media General and Meredith Corp. announced an agreement to merge into a new, even more giant entity that will be known as Meredith Media General. While Meredith, with some of the best-known consumer publishing brands, gets top billing in the agreement, Media General is effectively acquiring Meredith via a cash and stock deal putting its outstanding common stock value at $2.4 billion.

Upon closing, the new company’s board will consist of eight directors appointed by Media General and four by Meredith. J. Stewart Bryan III, current Media General chairman, will be chairman of Meredith Media General.

Current Meredith Chairman-CEO Stephen M. Lacy will be CEO and current Meredith President. Joseph H. Ceryanec will be CFO of the new company.

The balance of Meredith Media General’s senior management team will be a combination of the two existing executive teams. The company will be headquartered in Media General’s home base of Richmond, Va., but will maintain corporate and executive offices there and in Meredith’s base of Des Moines, Iowa.



The new consolidated company is projected to have annual revenues of $3 billion and will rank as one of the largest publishers and broadcasters in the U.S., as well as holding significant advertising agency and marketing services assets.

Meredith Media General will emerge as:

  • The third-largest local television station owner, initially with 88 television stations across 54 markets that reach 30 percent – or approximately 34 million – U.S. TV households.

  • A leading “multiplatform” publisher reaching more than 100 million unduplicated American women with titles such as Better Homes and Gardens, Allrecipes, Parents and Shape.

  • A digital publishing platform reaching more than 200 million monthly unique visitors via national and local consumer and business-to-business sites. Digital revenues are expected to exceed $500 million in the first full year of operations post closing.
3 comments about "Media General To Acquire Meredith: Latter Gets Top Billing in New Meredith Media General".
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  1. Ed Papazian from Media Dynamics, September 8, 2015 at 10:13 a.m.

    Another sign of the times----sigh!

  2. Henry Blaufox from Dragon360, September 8, 2015 at 10:39 a.m.

    Any indication yet which company and its executives will actually be in charge, since Media Gen is technically the acquirere but Meredith senior execs are in C level positions, at least so far? Also, will Meredith, long a mainstay in the Des Monies business community, reduce its presence there, or is it too soon to tell?

  3. Leonard Zachary from T___n__, September 8, 2015 at 2:01 p.m.

    It's a legacy business model pile up conglomerate.  So what's the winning strategy here?

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