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John Rogers Comments on Meredith Corp

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Oct 20, 2021
Summary
  • The stock advanced during the quarter.
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Television broadcaster and magazine advertiser, Meredith Corporation (

MDP, Financial) advanced sharply in late September onnews the company was in advanced discussions to sell its publishing segment to Barry Diller’s digital media company, IAC/InterActiveCorp. Subsequent to the end of the quarter, the acquisition was publicly announced, and the deal is incremental to MDP’s previously accepted acquisition bid from Gray Television for the other half of the company’s assets---17 local TV broadcast stations.

From

John Rogers (Trades, Portfolio)' Ariel Fund third-quarter 2021 commentary.

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