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Meredith Corp (MDP.N)

MDP.N on New York Stock Exchange

66.80USD
19 Jan 2018
Change (% chg)

$0.10 (+0.15%)
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$66.70
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Volume
63,952
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113,416
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$72.20
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$50.62

Latest Key Developments (Source: Significant Developments)

Meredith Corp Announces Pricing Of Senior Notes
Friday, 19 Jan 2018 

Jan 19 (Reuters) - Meredith Corp ::MEREDITH CORPORATION ANNOUNCES PRICING OF SENIOR NOTES AND ALLOCATION OF SENIOR CREDIT FACILITIES.MEREDITH CORP - ‍PRICED AT 6.875% ITS OFFERING OF $1.4 BILLION SENIOR UNSECURED NOTES DUE 2026​.MEREDITH CORP - ‍ALSO ANNOUNCED THAT IT HAS ALLOCATED $2.15 BILLION OF SECURED CREDIT FACILITIES​.  Full Article

Meredith's Acquisition Of Time Inc Receives Antitrust Clearance
Friday, 12 Jan 2018 

Jan 12 (Reuters) - Meredith Corp ::MEREDITH'S ACQUISITION OF TIME INC. RECEIVES ANTITRUST CLEARANCE.MEREDITH CORP - PLANS TO COMPLETE TRANSACTION WITHIN NEXT 30 DAYS​.MEREDITH CORP - ALSO INTENDS TO OFFER UP TO $1.4 BILLION IN AGGREGATE PRINCIPAL OF NEW SENIOR UNSECURED 8-YEAR NOTES.MEREDITH CORP - ‍INTENDS TO USE NET PROCEEDS OF PROPOSED OFFERING TO FUND PORTION OF ITS PROPOSED ACQUISITION OF TIME INC.​.MEREDITH CORP - INTENDS TO ALSO USE NET PROCEEDS OF PROPSED OFFERING ‍TO REPAY EXISTING MEREDITH & TIME INC INDEBTEDNESS & CREDIT FACILITIES​.  Full Article

Meredith Corporation Extends Tender Offer To Acquire Time Inc
Thursday, 11 Jan 2018 

Jan 11 (Reuters) - Meredith Corp ::MEREDITH CORPORATION EXTENDS TENDER OFFER TO ACQUIRE TIME INC..MEREDITH - OFFER WILL NOW EXPIRE ONE MINUTE AFTER 11:59 P.M. ET ON JANUARY 25, 2018, PER TERMS OF MERGER AGREEMENT, UNLESS FURTHER EXTENDED.  Full Article

Meredith Corp plans to cut hundreds of jobs after acquisition of Time Inc- FT
Monday, 27 Nov 2017 

Nov 27 (Reuters) - :Meredith Corp plans to cut hundreds of jobs after its acquisition Of Time Inc - FT, citing sources.Job cuts are part of cost-cutting plan Meredith reached with the Koch Brothers- FT, citing sources.  Full Article

Time Inc would be required to pay Meredith fee of $65 mln‍ upon deal termination​
Monday, 27 Nov 2017 

Nov 27 (Reuters) - Meredith Corp ::TIME INC - UPON TERMINATION OF DEAL WITH MEREDITH CORP UNDER SPECIFIED CIRCUMSTANCES, CO WOULD BE REQUIRED TO PAY MEREDITH TERMINATION FEE OF $65 MLN‍ ​.  Full Article

Time Inc to be acquired by Meredith Corp for $18.50 per share
Monday, 27 Nov 2017 

Nov 26 (Reuters) - Time Inc ::TIME INC TO BE ACQUIRED BY MEREDITH CORPORATION.TIME INC TO BE ACQUIRED BY MEREDITH CORPORATION.DEAL WITH MEREDITH SUBJECT TO CUSTOMARY CLOSING CONDITIONS AND REGULATORY APPROVALS.‍UPON CLOSING OF DEAL, IT IS EXPECTED THAT CEO RICH BATTISTA WILL LEAVE COMPANY​.TIME - ‍MEREDITH WILL MAKE AN $18.50 PER SHARE CASH TENDER OFFER TO BUY ALL OUTSTANDING TIME INC, INCLUDING ASSUMPTION OF DEBT AND NET OF CASH ACQUIRED​.  Full Article

Meredith Corp to buy Time Inc in all-cash transaction valued at $2.8 bln
Sunday, 26 Nov 2017 

Nov 26 (Reuters) - Meredith Corp ::ORATION TO ACQUIRE TIME INC. TO CREATE PREMIER MEDIA AND MARKETING COMPANY SERVING NEARLY 200 MILLION AMERICAN CONSUMERS.‍ENTERED AGREEMENT TO BUY ALL OUTSTANDING SHARES OF TIME FOR $18.50 PER SHARE IN AN ALL-CASH TRANSACTION VALUED AT $2.8 BILLION​.‍TRANSACTION HAS BEEN UNANIMOUSLY APPROVED BY BOARDS OF DIRECTORS OF MEREDITH AND TIME INC​.‍TRANSACTION IS EXPECTED TO CLOSE DURING Q1 OF CALENDAR 2018​.‍MEREDITH ANTICIPATES GENERATING COST SYNERGIES OF $400 MILLION TO $500 MILLION IN FIRST FULL TWO YEARS OF OPERATION​.MEREDITH - ‍MEREDITH HAS SECURED A TOTAL OF $3.55 BILLION - WHICH INCLUDES A $350 MILLION UNDRAWN REVOLVING CREDIT FACILITY - IN FULLY COMMITTED DEBT FINANCING​.‍MEREDITH HAS ALSO SECURED $650 MILLION IN PREFERRED EQUITY COMMITMENT FROM KOCH EQUITY DEVELOPMENT​.‍FUNDS WILL BE USED TO FINANCE TRANSACTION AND REFINANCE EXISTING DEBT​.MEREDITH - ‍KOCH EQUITY DEVELOPMENT WILL NOT HAVE A SEAT ON MEREDITH BOARD AND WILL HAVE NO INFLUENCE ON MEREDITH'S EDITORIAL OR MANAGERIAL OPERATIONS​.‍TRANSACTION WILL CREATE A DIVERSIFIED MEDIA AND MARKETING COMPANY WITH CALENDAR 2016 COMBINED REVENUES OF $4.8 BILLION​.  Full Article

Koch brothers said to back Time Inc deal talks with Meredith- NYT, citing sources‍​
Thursday, 16 Nov 2017 

Nov 15 (Reuters) - :Koch brothers said to back time inc deal talks with meredith - NYT, citing sources‍​.  Full Article

Meredith reports Q1 adj. EPS $0.69, sees FY shr $3.20 to $3.50
Thursday, 26 Oct 2017 

Oct 26 (Reuters) - Meredith Corp :Meredith reports fiscal 2018 first quarter results.Sees FY 2018 GAAP earnings per share $3.24 to $3.54.Sees Q2 2018 earnings per share $0.87 to $0.92.Sees FY 2018 earnings per share $3.20 to $3.50 excluding items.Q1 earnings per share $0.69 excluding items.Q1 earnings per share $0.73.Q1 earnings per share view $0.63 -- Thomson Reuters I/B/E/S.Qtrly ‍total revenues were $393 million, compared to $400 million in prior-year period​.Fy2018 earnings per share view $3.37, revenue view $1.70 billion -- Thomson Reuters I/B/E/S.  Full Article

Meredith raises earnings outlook for Q3 and full year 2017
Wednesday, 22 Mar 2017 

Meredith Corp : Meredith raises earnings outlook for fiscal 2017 3rd quarter and full year . Sees Q3 2017 earnings per share $0.85 to $0.87 . For full-year fiscal 2017, Meredith now expects record earnings per share of $4.13 to $4.18 on a GAAP basis . For full-year fiscal 2017, Meredith now expects earnings per share of $3.85 to $3.90 excluding special items recorded in fiscal 2017 .Raise in Q3 outlook for EPS driven by better than expected advertising performance.  Full Article

BRIEF-Meredith Corp Announces Pricing Of Senior Notes

* MEREDITH CORPORATION ANNOUNCES PRICING OF SENIOR NOTES AND ALLOCATION OF SENIOR CREDIT FACILITIES