Connect with us

Hi, what are you looking for?

Jewish Business News

Business

Barry Diller’s IAC Could Buy People Magazine Parent Co for $2.5 Billion

People Magazine

People Magazine Cover Jennifer Aniston

Barry Diller’s IAC, a huge media conglomerate, just might buy out Meredith, the parent company of such iconic publications as People Magazine. The deal reportedly would be worth $2.5 billion.

The Wall Street Journal made the revelation at the end of last week. After its report, Shares of Meredith went up by more than 26 percent in early morning trading last Friday. The company’s magazine publishing business has been plagued by shrinking circulation, newsstand sales and withering advertising revenues that have only worsened during the pandemic.

Meredith Corporation is a publicly held media and marketing services company. It holds national and local media groups, covering pop culture, entertainment, food, fashion and lifestyle, news, business and finance, and sports. Its many magazines include Health, Entertainment Weekly, Food & Wine, Better Homes & Gardens, Allrecipes and In Style.

In 2018 Meredith acquired Time Inc. for $1.34 billion from Warner Bros. Things have changed completely in just a short period of time for the entire print industry. At one time Warner merged with Tim and became known as TimeWarner. But now Warner, a leading world media behemoth that owns HBO, CNN and the whole DC catalogue which includes superheroes like Superman and Batman, got out of the magazine business entirely and gave up the “Time” brand. This came after decades in which Time was one of the world’s most prestigious names in business, but not anymore.

Barry Diller founded internet and media conglomerate IAC in 1995 and is its senior executive and chairman.

People Magazine

People Magazine Cover Angleina Jolie

IAC is an American holding company that owns brands throughout the world, covering 100 countries, mostly in media and Internet. Headquartered in New York City and incorporated in Delaware, IAC has been led by Chief Executive Officer Joey Levin since June 2015.

IAC today operates Dotdash and Care.com, among many others, and has majority ownership of Angi Inc., which includes HomeAdvisor powered by Angi and Handy. It also operates Vimeo and Care.com. The Company is headquartered in New York City and has business operations and satellite offices worldwide.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Newsletter

Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

empty

The contract signed between the Israeli government and Pfizer shows clearly and unequivocally that this is a clinical study on humans - The agreement...

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

Business

Now Platika joins and elite club of $10 billion plus Israeli firms.

Advertisement
cialis cialis satış