Meredith Completes Acquisition of Every Day with Rachael Ray From Reader's Digest Association
"I am really looking forward to reuniting with Rachael, who was always a great partner and collaborator," said Guilfoyle. "This is an amazing opportunity to work again with a brand that I launched and continue to admire in so many ways."
Meredith also announced Linda Fears, Editorial Director, Meredith Food Content, and Editor-in-Chief of Family Circle, will oversee all editorial content. Meredith is currently searching for an Editor-in-Chief of Every Day with Rachael Ray that will report to Fears.
Meredith Chief Development Officer John Zieser added, "We are constantly looking for strategic acquisitions and investment opportunities like this to expand our reach and create shareholder value."
Financial terms of the agreements were not disclosed, and the acquisition will not have a material effect on Meredith's fiscal 2012 financial performance.