Meredith buys interactive ad agencies
Reuters
Wednesday, January 10, 2007; 6:31 AM
NEW YORK (Reuters) - Magazine publisher Meredith Corp. (MDP.N) said on Wednesday it bought two interactive marketing agencies, signaling its deepening involvement in marketing in addition to its traditional -- and slower-growth -- publishing and broadcasting businesses..
Meredith, which publishes magazines Better Homes and Gardens and Family Circle, bought online marketing firm Genex and Arlington and Virginia-based marketing firm New Media Strategies.
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• It did not disclose financial terms, but said the acquisitions will not have a material effect on Meredith's financial performance in fiscal 2007.
Los Angeles-based Genex's clients include Honda (7267.T), Toyota (7203.T), Citigroup (C.N) and KB Home (KBH.N). New Media Strategies' clients include ABC , Coca-Cola (KO.N), AT&T (T.N), Ford (F.N), Sony (6758.T) and Unilever (ULVR.L), Meredith said.
The company last April acquired O'Grady Meyers, a Los-Angeles based interactive marketing services company with experience in the food, packaged goods and health care categories.
