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Stock Market & Financial Investment News

News Breaks
February 3, 2014
09:17 EDTMDPMeredith increases quarterly dividend 6.1% to 43.25c per share
Meredith increased its regular quarterly dividend 6.1% to 43.25c per share, or $1.73 on an annual basis. The new quarterly dividend will be payable on March 14 to shareholders of record on February 28.
News For MDP From The Last 14 Days
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February 2, 2016
08:04 EDTMDPMeredith increases dividend 8.2% to $1.98
The Meredith Board of Directors on Saturday increased its regular dividend 8.2% to $1.98 on an annualized basis, an increase of 15c per share. The next dividend will be 49.50c per share and is payable on March 15 to shareholders of record on February 29.
January 28, 2016
07:25 EDTMDPMeredith likely to be range bound for a few quarters, says Wells Fargo
After Meredith (MDP) and Media General (MEG) terminated their merger, Wells Fargo expects Meredith's stock to be range bound for a few quarters, since it believes that no M&A deals in the broadcast sector will take place until the spectrum auction is over 6-9 months from now. Wells says that Meredith's magazines business continues to weaken its results, and it keeps a Market Perform rating on the shares.
January 27, 2016
09:06 EDTMDPMeredith sees Q3 EPS 77c-82c, consensus 80c
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09:05 EDTMDPMeredith raises FY16 EPS to $3.05-$3.25 from $2.90-$3.25, consensus $3.10
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09:04 EDTMDPMeredith recorded $29M in incremental political advertising revenue in Q2
Reports Q2 National Media Group operating profit grew nearly 30% on 10% revenue growth. Reports Q2 Local Media Group non-political advertising revenues grew nearly 10% to $104M. Reports Q2 total company digital advertising revenues grew more than 15M.
09:03 EDTMDPMeredith reports Q2 EPS excluding items 80c, consensus 78c
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08:48 EDTMDPMeredith and Media General agree to terminate merger agreement
Meredith Corporation (MDP) and Media General (MEG) said they have agreed to terminate immediately the binding merger agreement they entered into on September 8, 2015. In exchange for terminating the merger agreement, Meredith will receive: $60M in cash payable immediately, and an opportunity to negotiate for the purchase of certain broadcast and digital assets currently owned by Media General. There is no assurance that Media General and Meredith will reach agreement with respect to a purchase of any broadcast and digital assets, any such transaction being subject to approval of Nexstar Broadcasting (NXST) under Media General's merger agreement with Nexstar. Meredith Chairman and CEO Stephen Lacy commented, "While we still believe in the strategic and financial benefits a merger with Media General would have created, we are pleased with the financial benefits of the termination agreement and the shareholder value created." Media General CEO Vincent Saduskey said, "We are pleased to have this matter behind us and look forward to working towards completion of our transaction with Nexstar, which we believe is in the best interest of Media General and delivers superior value to our shareholders."
08:48 EDTMDPNexstar enters into definitive agreement to acquire Media General for $4.6B
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08:46 EDTMDPMeredith and Media General agree to terminate merger agreement
08:46 EDTMDPNexstar to acquire Media General for $4.6B

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