Meredith to Acquire Every Day with Rachael Ray
"American women have an expanding variety of food lifestyle interests and Meredith's goal is to provide them with content they desire whenever and wherever they want it across multiple platforms," said Linda Fears, Editorial Director, Meredith Food Content. "We're delighted we will be adding the expertise and creativity of Rachael Ray to our group."
Financial terms of the agreement will not be disclosed, and the acquisition will not have material effect on Meredith's fiscal 2012 performance.
"We are constantly looking for strategic acquisitions and investment opportunities like this to expand our reach and create shareholder value," said Meredith Chief Development Officer John Zieser.