meredith corp (MDP) Key Developments
Meredith Corporation Promotes Janell Pittman to Vice President and General Manager of the Better Homes and Gardens and Parents Digital Network
Mar 25 14
Meredith Corporation announced that Janell Pittman, General Manager of BHG.com, has been promoted to Vice President and General Manager of the Better Homes and Gardens and Parents Digital Network, effective immediately. In her new role, Pittman will add management of Parents.com and Parenting.com to her existing responsibilities as General Manager of BHG.com. Pittman has been instrumental in building out BHG.com with a strong focus on audience and revenue generating features. Under her leadership, BHG.com has realized a 50% increase in quality comScore traffic since June 2012. Pittman also led the team that launched Must-Have Recipes from Better Homes and Gardens, Meredith's first mobile app with multiple revenue streams. That app has been downloaded more than 4 million times since it launched in December 2011. Additionally, she has expertly led the creation of a collaborative, data-driven, and results-focused planning process that leverages strengths across the company.
Meredith Corporation Announces Director James R. Craigie Resigned from the Board of Directors
Mar 20 14
On March 18, 2014, Meredith Corporation announced that director James R. Craigie resigned from the Board of Directors of the company effective May 7, 2014. Mr. Craigie's decision to resign from the Board was solely for personal reasons and did not involve any disagreement with the company.
Meredith Corporation Issues $150 Million Unsecured Senior Notes
Feb 28 14
On February 28, 2014, Meredith Corporation issued $150 million in floating-rate unsecured Senior Notes to two insurance companies. The proceeds, along with borrowings under existing facilities, were used to finance the acquisition of KMOV (TV), St. Louis, Missouri for $177 million from Gannett Co. Inc. and Sander Media LLC. The Senior Notes bear interest at 1.5% over LIBOR and are due in February 2024.
Meredith Corporation Reaffirms Earnings Guidance for the Third Quarter and Full Year of 2013
Feb 28 14
Meredith Corporation reaffirmed earnings guidance for the third quarter and full year of 2013. The company continues to expect fiscal 2014 full year earnings per share to range from $2.60 to $2.95, and fiscal 2014 third quarter earnings per share to range from $0.63 to $0.68. Ranges for both periods exclude operating results and transaction expenses related to the acquisitions of television stations in Phoenix and St. Louis.
Meredith Corporation Declares Quarterly Dividend, Payable on March 14, 2014
Feb 3 14
The Meredith Corporation board of directors on increased its regular quarterly dividend 6.1% to $0.4325 per share, or $1.73 on an annual basis. The new quarterly dividend will be payable on March 14, 2014, to shareholders of record on February 28, 2014.