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Revenue and Circulation Increases at Meredith

Posted on Saturday, April 30, 2016 at 11:19 AM

In the news: Meredith Corp. is off to a good start this year.

Meredith Corp's National Media Group posted strong circulation numbers in the first quarter of 2016, with revenues up 2.4 percent over last year. Writes Greg Dool of Foliomag.com: "Of particular note, circulation revenues bucked industry trends by increasing, albeit modestly, to $96.62 million -- a slight uptick over the $96.04 million reported last year." Particularly strong were Shape, All Recipes, and EatingWell magazines.

Also contributing to Meredith's strong showing in the first quarter was January's failed merger with Media General. The fallen deal brought with it a hefty $60 termination fee, an unexpected windfall that significantly boosted Meredith's year-to-date net earnings. Read more here.

Also Notable

Possible Gannett and Tribune Merger

Gannett has made a very public play for the ailing Tribune Publishing, which saw a sharp decline in revenues last year. The publishing giant has offered over $800 million to newly appointed chairman Michael Ferro, who just joined Tribune in February. The acquisition would provide some much-needed funding and support to a company that has struggled with profitability for years, but some are questioning Gannett's aggressive tactics. Read more here.

Prevention Eliminates Print Ads

Rodale has announced that it will stop running print advertising in the July 2016 issue of Prevention magazine. Readers will see the single-issue price jump by a dollar, and the cost of a yearly subscription will double. According to WSJ.com, chief executive Maria Rodale has indicated that the move will ultimately cut operation costs by more than half. Read more about the cost-cutting decision here.

The New Yorker: First Magazine to Win Pulitzer

This year, the Pulitzer Prize made waves when it announced that magazines would be eligible for journalism prizes. The New Yorker has made a big splash in its first year of eligibility, winning prizes for both feature writing and criticism. Read more about the winners here.

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