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Barry Diller’s IAC Dotdash to Acquire Magazine Publisher Meredith for $2.7 Billion

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thewrap.com
thewrap.comthewrap.com:

IAC Dotdash is acquiring Meredith Corporation in an all-cash deal valued at $2.7 billion dollars, the companies announced Wednesday.Dotdash is the publishing division of Barry Diller’s IAC holding company.

The deal will be completed in an all-cash transaction at a purchase price of $42.18 per share, and is expected to close by the end of 2021.

Meredith’s wide-ranging portfolio includes brands and media publications like People, InStyle, Real Simple, Better Homes & Gardens, AllRecipes, Southern Living and more.The combined company will be called Dotdash Meredith and will be led by CEO Neil Vogel.

Dotdash boasts that it reaches roughly 100 million online consumers monthly amid its 14 media brands in health, finance and lifestyle, and they say.

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