Meredith Agrees to Sell National Media Group to IAC’s Dotdash

Washington, DC – October 14, 2021 – Cooley advised Meredith Corporation, a multiplatform media and marketing company, on its agreement to sell its National Media Group to IAC’s Dotdash for $2.7 billion. Partners Kevin Mills and Aaron Binstock led the Cooley team advising Meredith.

The sale combines the power of Dotdash’s digital publishing model with Meredith’s trusted, iconic brand portfolio, loyal audience and scale. The combined company – to be called Dotdash Meredith and led by Dotdash CEO Neil Vogel – is expected to be one of the largest publishers in the US with leading brands across the highest-value commercial categories online, including home, health, food, finance, parenting and beauty.

“The combination of Meredith’s celebrated cross platform brands, creative content and first-party data with Dotdash’s digital first brands is a game-changer for the industry,” Tom Harty, chairman, president and CEO of Meredith, said in a news release. “Nowhere else will you find such a premium portfolio of media assets under one roof. We are thrilled to join forces to accelerate Meredith’s digital future.”

Meredith is a multiplatform media and marketing company that provides information and inspiration to women’s lives daily through its trusted brands, which include People, Better Homes & Gardens, Allrecipes, Southern Living and Real Simple. The company creates content and experiences focused on entertainment news, house and home, food, style, health, fitness, travel and luxury, and parenting – priority topics for its largely female audience.

Cooley previously advised Meredith on its purchase of Time in 2017 for $2.8 billion, its sale of several former Time assets, including TimeFortune, Travel + Leisure, Sports Illustrated and Money, its $3.5 billion debt financing and numerous other corporate transactions. In a transaction announced in May 2021, Cooley advised Meredith on the sale of its TV broadcast group to Gray Television for $2.85 billion and the spinoff of its National Media Group. Combined with the sale to Gray, the sale of Meredith’s National Media Group to Dotdash represents the sale of the entire company to two buyers.

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Related Contacts
Kevin Mills  Senior Counsel Washington, DC
Aaron Binstock  Partner Washington, DC
Michael Basile  Partner Washington, DC
Michael Tollini  Partner Washington, DC, New York
Helenanne Connolly  Partner Reston
Howard Morse  Partner Washington, DC
David Walsh  Partner Reston
Darren DeStefano  Partner Reston
Tiana Demas  Partner Chicago, New York
Patrick Flanagan  Partner New York
Sarah Lightdale  Partner New York
Stephanie Gentile  Partner New York
Dee Bansal  Partner Washington, DC
Nyron J. Persaud  Partner New York, Chicago
Eileen Marshall  Partner Washington, DC, Palo Alto
Alexander Lee  Partner Los Angeles – Santa Monica, Los Angeles – Downtown
Mark Windfeld-Hansen  Senior Counsel Palo Alto
Lesse Castleberry  Senior Counsel New York
Kristin Leavy  Special Counsel Washington, DC
Stacey A. Bradford  Special Counsel Washington, DC
Miriam Petrillo  Special Counsel Chicago
Claudia Torres  Special Counsel Washington, DC
Jacquelyn Burke  Special Counsel Boston
Parker Erkmann  Special Counsel Washington, DC
Stella Sarma  Special Counsel Brussels, London
Wesley Dietrich  Associate Washington, DC
Rick Jantz  Associate Los Angeles – Santa Monica, Los Angeles – Downtown
Mary Maher Lewis  Special Counsel Reston
David Safren  Associate New York
Carly Mitchell  Associate Washington, DC
Addison Pierce  Associate Chicago
Nicollette R. Moser  Associate Washington, DC
Reza Safai  Associate Palo Alto
Rubin Waranch  Associate Washington, DC
Darah Protas  Associate Washington, DC
Rowook Park  Partner San Diego
Claire Gibbs  Associate Washington, DC
Anthony Hajj  Associate New York
Henry Wendel  Special Counsel Washington, DC
Asheley Walker  Associate Washington, DC
Sarah Swain  Associate Washington, DC
Hugh Stuart  Associate Washington, DC
John Schlenz  Associate Washington, DC