Breaking Up Meredith's Family Circle
After losing out on a merger, it's time for the media company to consider a TV-magazine split.
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Meredith Corp. is the odd man out in more ways than one.
The $1.8 billion publishing company and television broadcaster was forced to walk away last month from a planned merger with Media General after Nexstar Broadcasting muscled in with a better offer for the TV-station owner. Broadcasters have become increasingly obsessed with scale and the stronger bargaining power that comes with it, and that made Meredith's magazine division -- which makes up the bulk of its revenue -- a liability.