Tuesday, 26 Oct, 2021

IAC in talks to acquire Meredith in $2.5 billion deal that would boost its holdings after Match Group spinoff

IAC Chairman Barry Diller.Cindy Ord/Getty ImagesIAC has emerged as a leading candidate to buy publisher Meredith, The Wall Street Journal reported..

title IAC Chairman Barry Diller.

Digital media giant IAC is in advanced talks to acquire print publishing giant Meredith Corp. in a potential deal that could exceed $2.5 billion, The Wall Street Journal reported Thursday.

IAC, chaired by Barry Diller, has pulled ahead of private equity firm The Najafi Companies and other potential buyers and could reach an agreement with Meredith in the next few days, according to The Journal.

IAC and Meredith did not respond to requests for comment on this story.

IAC, which owns brands including Investopedia and Brides, downsized its portfolio when it spun off Match Group, the parent company of Tinder, OkCupid, and a majority of the major US dating platforms.

Acquiring Meredith, which publishes dozens of magazines including People, Better Homes & Gardens, and InStyle, would significantly boost its holdings - and mark a major pivot for Meredith, which bought Time for $1.8 billion in 2018.

Meredith titles acquired via the deal would become part of IAC's publishing division, Dotdash, according to The Journal.

Read the original article on Business Insider

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