DES MOINES, Iowa, Sept. 9, 2019 /PRNewswire/ -- Meredith
Corporation (NYSE:MDP; www.meredith.com) – the leading
diversified media company reaching 180 million American
consumers each month – announced that President and Chief
Executive Officer Tom Harty today
purchased 12,000 shares of Meredith common stock on the open market
at an average price of $35.02 per
share.
"Over the last 18 months we have positioned Meredith for
long-term revenue and profit growth," Harty said.
"Personally, I do not believe our current share price reflects our
potential, and that's why I continue to invest personal funds in
company shares."
This is the third time since Harty became CEO in January 2018 that he has purchased company
shares. With these additional purchases, Harty now holds
nearly 100,000 shares of Meredith stock or stock equivalents.
Meredith has been committed to service journalism for more than
115 years. Today, Meredith uses multiple distribution
platforms—including broadcast television, print, digital, mobile
and video—to provide consumers with content they desire and to
deliver the messages of its advertising and marketing partners.
Meredith's National Media Group reaches over 180 million
unduplicated American consumers every month, including 115 American
women and nearly 90 percent of U.S. millennial females. Meredith is
a leader in creating content across media platforms and life stages
in key consumer interest areas such as entertainment, food,
lifestyle, parenting and home. Meredith is the No. 1 magazine
operator in the U.S., and owner of the largest premium content
digital network for American consumers. Meredith's leading national
brands include PEOPLE, Better Homes & Gardens, InStyle,
Allrecipes, REAL SIMPLE, SHAPE, Southern Living and Martha Stewart Living. Meredith also features
robust brand licensing activities including more than 3,000 SKUs of
branded products at 4,000 Walmart stores across the U.S. and at
walmart.com.
Meredith's National Media Group also includes leading affinity
marketer Synapse, and The Foundry, the company's state-of-the-art
creative lab and content studio. Meredith's Local Media Group
includes 17 television stations reaching 11 percent of U.S.
households and 30 million viewers. Meredith's portfolio is
concentrated in large, fast-growing markets, with seven stations in
the nation's Top 25 markets—including Atlanta, Phoenix, St.
Louis and Portland—and 13 in the Top 50. Meredith's stations
produce more than 700 hours of local news and entertainment content
each week, and operate leading local digital destinations. Meredith
also owns MNI Targeted Media, which delivers targeted advertising
solutions to more than 1,200 clients on a local, regional and
national level.
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SOURCE Meredith Corporation