Reuters: Bridgeman in the lead to buy Sports Illustrated from Meredith Corp. [Seeking Alpha]
Meredith Corporation (MDP)
Last meredith corporation earnings: 2/6 08:00 am
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Source: Seeking Alpha
Former NBA player and fast food businessman Junior Bridgeman is in the lead to acquire Sports Illustrated magazine from Meredith Corp. (NYSE: MDP ) for ~$150M, Reuters reports. One part of the deal still being negotiated is the outsourcing agreements related to printing and paper costs of the magazine, according to the report. MDP already has sold off its Time and Fortune magazines and is exploring a sale of Money Magazine , as it carries out a revamp of its portfolio. Sports Illustrated , which began publication in 1954, has nearly 3M subscribers but has been cutting back in recent years, reducing its print edition to 24 issues annually, in the face of pressure from online media. Click to subscribe to real-time analytics on MDP Now read: Naspers Ltd. 2019 Q2 - Results - Earnings Call Slides » Subscribe for full text news in your inbox
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