Meredith Corporation, the leading media and marketing company serving American women, today reported fiscal 2012 second quarter earnings per share of $0.70, compared to $0.88 in the year-ago period. Revenues were $329 million, compared to $366 million. Meredith recorded $21 million, or $0.28 per share, less of political advertising revenues in the second quarter of fiscal 2012 than in the year-ago period, which is expected in an off-election year.
Meredith Corporation, the publisher of women’s magazines like Better Homes & Gardens and Ladies’ Home Journal, is the new owner of the world’s largest food website, Allrecipes.com, which it will acquire from the Reader’s Digest Association in a $175 million transaction that will close later this quarter.
Allrecipes.com has about 25 million monthly unique visitors. According to Meredith’s press release, the acquisition “more than doubles the audience of the Meredith Women’s Network,” which includes its magazines’ websites and Recipe.com, “to nearly 40 million unduplicated unique monthly visitors”
New Media Strategies (NMS) and Meredith Xcelerated Marketing (MXM) announced today that Founder & Chief Executive Officer Pete Snyder will step down from executive duties at the company at the end of the year.
Meredith Corporation enhanced its position in the food media marketplace today with the acquisition of the EatingWell Media Group and the launch of Recipe.com.
Meredith Corporation today reported that fiscal 2011 first quarter earnings per share increased 40 percent to $0.56, compared to $0.40 in the year-ago period.