Another day, more M&A. The American holding company IAC is in talks to acquire Meredith, the publishing empire behind People Magazine and Better Homes & Garden. The deal is expected to be valued at more than $2.5 billion. 💰
IAC is a big player in the media and tech space. It’s most synonymous with two recent spinoffs: video sharing site Vimeo and dating company Match Group, which owns the majority of U.S. dating apps. IAC has also boasted Expedia, Ticketmaster, and LendingTree among its portfolio companies.
Today, IAC owns a portfolio of other brands like Investopedia, HomeAdvisor, Ask.com, and Angie’s List. However, IAC could use some bulk after shedding its two most-successful businesses. In that sense, Meredith would be a huge pickup for IAC, which would benefit from the portfolio expansion (and all its revenue, of course.) 👏
A deal is not a certainty at this point, but it’s no secret that Meredith is looking for a buyer. The news sent shares of the media conglomerate climbing in after-hours yesterday, up 18.3%. 🚀
$IAC stock was up 3.01% yesterday.