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WIKI ANALYSIS
Meredith Corporation (MDP) is a leading media company with diversified interests in publishing, broadcasting, integrated marketing and interactive media. The company reports through two business segments:
Publishing (78% of 2007 revenue, 67% of operating profit)
Meredith publishes 25 magazines and about 180 special interest publications under approximately 80 titles, which together have a circulation of 30 million, making Meredith the second largest consumer magazine publisher in the U.S. (according to the Audit Bureau of Circulations ABC). The company focuses on the home and family markets, publishing familiar titles such as Better Homes and Gardens, Ladies' Home Journal, and Family Circle, and reaches out to the maximum number of female readers in the magazine industry (according to Mediamark Research). Meredith has more than 400 books in print.
In July 2005, Meredith completed the acquisition of Parents, Family Circle, Fitness, Child, and Ser Padres (collectively referred to as the G J Consumer Titles) from Gruner _ Jahr Printing and Publishing. By acquiring the G J titles, Meredith is broadening its portfolio, tapping younger women readers and the growing Hispanic market.
In September 2005, Meredith launched its first lifestyle publication for Hispanic women, titled Siempre Mujer!. According to the Census Bureau, within the next decade, one in five new homeowners will be Hispanic. Meredith Hispanic Ventures now publishes five Spanish-language titles, making Meredith the leading publisher serving Hispanic women in the United States. The Hispanic market currently represents $600 billion in spending power and is expected to grow to $1 trillion by the year 2010.
Meredith also publishes more than 400 home and family service books that are sold primarily through retail book and specialty outlets. In 2007, Meredith published over 100 new or revised titles. The books are published under the Better Homes and Gardens trademark or under many licensed trademarks, including The Home Depot, Food Network and Discovery Channel.
Broadcasting (22% of 2007 revenue, 33% of operating profit)
The broadcasting segment owns, and operates 13 television stations: six CBS, three Fox and one NBC affiliate, one CW affiliate, and two MyNetworkTV affiliates. The segment is also involved in video production and its video library includes a series of 30 minute shows based on magazine content.
Meredith has the largest domestic database among media companies, consisting of more than 85 million names, which facilitates developing precise, targeted marketing campaigns utilized by magazine and television advertisers. Recently the company acquired Directive Corporation, a database marketing and analytics company. It also has an extensive Internet presence (with more than 40 web sites), and two broadband channels Better.tv and Parents.tv.
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