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BREAKING NEWS & VIEWS
Meredith Acquires Disney’s FamilyFunWednesday, January 4, 2012 .jpg) FamilyFun magazine and associated assets have been acquired by Meredith Corporation, which will add the parent and child-focused book to its stable of brands that include Parents and American Baby. Meredith will get the magazine, which boasts a rate base of 2.1 million, as well as the digital magazine and the ToyHopper app. “This acquisition further strengthens our leadership position and reach among women in both the parenthood and food spaces, and offers our advertisers additional channels to reach these consumers,” says Tom Harty, Meredith National Media group president in a statement.FamilyFun is aimed at parents and their younger children (ages 3-12). The assets have always been activities-oriented, with suggestions for projects and tools for making them. The title just celebrated its 20th anniversary. Meredith claims that the acquisition gives the company a 60% revenue share in the parenthood ad category. According to the Publishers Information Bureau, FamilyFun ad revenues were down 12% for the first half of 2011 compared to the same period last year. Its ad pages were off 16.4%. FamilyFun, which publishes 10 times a year, will continue under editorial director (since Oct.2008) Ann Hallock and publisher (since Dec. 2008) Deb Mignucci, with both now reporting to Meredith Parents Network president Carey Witmer. FF's editorial offices will remain in Northampton, Mass.; its New York-based business offices will presumably move to Meredith's recently opened headquarters at 805 Third Ave. FF was the 1990 brainchild of U.S. News & World Report executive Jake Winebaum, who received financial support from from CEO Mort Zuckerman. The magazine was acquired by Disney in 1991 and originally was part of a unit with Disney Adventures (since folded) and Discover (since sold). FF becomes Meredith's third major acquisition in seven months, following Eating Well (June 2011) and Every Day with Rachael Ray (Oct. 2011). Harty says that the acquisition is expected to close in 30 days and will not have a material effect on 2012 financials. If you have breaking news to share please contact Steve Smith at ssmith@accessintel.com
Take min's fun quiz and find out how magazine-savvy you are! COMMENTS
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Any details on what Meredith is paying for this acquisition and how profitable it might have been for Disney?
Posted by mark on Wednesday, January 4, 2012 @ 01:39 PM
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