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Stock Market & Financial Investment News

News Breaks
June 13, 2014
06:12 EDTTIME, MDPTime Inc. initiated with a Buy at Citigroup
Citigroup expects the magazine industry to undergo a consolidation period with Meredith (MDP) acquiring Time Inc. (TIME) in Q4 of 2015. The firm initiated shares of Time with a Buy rating and $28 price target.
News For TIME;MDP From The Last 14 Days
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February 8, 2016
13:50 EDTTIMETime Inc. establishes new advertising sales go-to-market strategy
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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
January 26, 2016
11:50 EDTMDPMeredith near deal to end Media General pact, allow Nexstar deal, Bloomberg says
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11:22 EDTMDPMeredith close to allowing Media General, Nexstar deal, Bloomberg reports
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10:18 EDTMDPMeredith announces brand licensing agreement with Apparel Bridge
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10:02 EDTMDPMeredith, Bellisio Foods sign brand licensing agreement for EatingWell
Meredith Corporation has agreed to a multi-year licensing partnership with Bellisio Foods for the EatingWell brand. This is Meredith Brand Licensing's first expansion into the retail consumable food category.EatingWell frozen products will be available for consumer purchase at supermarkets and retail grocery stores nationwide beginning in fall 2016. At launch, the EatingWell product line will focus on single-serve frozen entrees. Meredith and Bellisio Foods anticipate future food expansion into products such as multi-serve meals, appetizers, sides, snacks, vegetables, breakfast items, desserts and breads. Meredith and Bellisio are collaborating on the selection and development of recipes.

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