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Meredith Corp (MDP.N)

MDP.N on New York Stock Exchange

58.20USD
23 Feb 2018
Change (% chg)

$2.00 (+3.56%)
Prev Close
$56.20
Open
$56.25
Day's High
$58.40
Day's Low
$56.25
Volume
85,764
Avg. Vol
129,622
52-wk High
$72.20
52-wk Low
$50.62

Latest Key Developments (Source: Significant Developments)

Meredith Reports Qtrly EPS $3.49
Thursday, 1 Feb 2018 

Jan 31 (Reuters) - Meredith Corp ::ANNOUNCES COMPLETION OF TIME INC. ACQUISITION AND REPORTS FISCAL 2018 SECOND QUARTER AND FIRST HALF RESULTS.Q2 EARNINGS PER SHARE $3.49.Q2 EARNINGS PER SHARE VIEW $0.89 -- THOMSON REUTERS I/B/E/S.QTRLY TOTAL REVENUES $417.7 MILLION VS $442.6 MILLION.Q2 RESULTS INCLUDED A BENEFIT OF $2.92 PER SHARE RELATED TO CHANGES TO U.S. CORPORATE INCOME TAX RATE.Q2 RESULTS INCLUDED TRANSACTION EXPENSES OF $0.23 PER SHARE RELATED TO MEREDITH'S ACQUISITION OF TIME INC.Q2 2018 RESULTS INCLUDED CHARGE OF $0.34 PER SHARE RELATED TO IMPAIRMENT OF TRADEMARK & REALIGNMENT IN MEREDITH'S NATIONAL MEDIA GROUP.  Full Article

Meredith Corp Announces Completion Of Time Inc Acquisition
Thursday, 1 Feb 2018 

Jan 31 (Reuters) - Meredith Corp ::ORATION ANNOUNCES COMPLETION OF TIME INC. ACQUISITION AND REPORTS FISCAL 2018 SECOND QUARTER AND FIRST HALF RESULTS.Q2 EARNINGS PER SHARE $3.49.Q2 EARNINGS PER SHARE VIEW $0.89 -- THOMSON REUTERS I/B/E/S.ORATION ANNOUNCES COMPLETION OF TIME INC. ACQUISITION AND REPORTS FISCAL 2018 SECOND QUARTER AND FIRST HALF RESULTS.Q2 RESULTS INCLUDED A BENEFIT OF $2.92 PER SHARE RELATED TO CHANGES TO U.S. CORPORATE INCOME TAX RATE.Q2 RESULTS INCLUDED TRANSACTION EXPENSES OF $0.23 PER SHARE RELATED TO MEREDITH'S ACQUISITION OF TIME INC.Q2 2018 RESULTS INCLUDED CHARGE OF $0.34PER SHARE RELATED TO IMPAIRMENT OF TRADEMARK & REALIGNMENT IN MEREDITH'S NATIONAL MEDIA GROUP.QTRLY TOTAL REVENUES $417.8 MILLION VERSUS $442.6 MILLION.  Full Article

Meredith Corp Extends Tender Offer To Acquire Time Inc
Friday, 26 Jan 2018 

Jan 26 (Reuters) - Meredith Corp ::MEREDITH CORPORATION EXTENDS TENDER OFFER TO ACQUIRE TIME INC..MEREDITH CORP - OFFER WILL NOW EXPIRE ON JANUARY 30, 2018.  Full Article

Meredith Corp Announces Pricing Of Senior Notes
Saturday, 20 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
Saturday, 13 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
Monday, 27 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

BRIEF-Meredith Reports Qtrly EPS $3.49

* ANNOUNCES COMPLETION OF TIME INC. ACQUISITION AND REPORTS FISCAL 2018 SECOND QUARTER AND FIRST HALF RESULTS