Barry Diller’s latest deal is banking heavily on his digital flair as his IAC/InterActiveCorp buys magazine publisher Meredith for an enterprise value of $2.7 billion. It’s a big bet on brands that still rely on print, jennifersaba argues.
IAC/InterActiveCorp said on Oct. 6 that its digital media arm Dotdash was buying Meredith’s National Media Group for an enterprise value of $2.7 billion.
The deal will combine Meredith’s magazine brands, including People, Better Homes & Gardens and Allrecipes, with Dotdash’s digital properties such as Investopedia, Serious Eats and Brides.A commemorative issue of People magazine is seen on a newsstand in New York, August 4, 2010.
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