Source: http://www.meredith.com/home.html
Headquarters
1716 Locust Street
Des Moines, IA 50309
Phone: (515) 284-3000
Website: www.meredith.com
Key Executives
Stephen M. Lacy – Chairman, President and CEO
Joseph H. Ceryanec – Vice President and Chief Financial Officer
John S. Zieser – Chief Development Officer, General Counsel
Tom Harty – President, Meredith National Media Group
Paul Karpowicz – President, Meredith Local Media Group
Steven M. Cappaert – Corporate Controller
Total employees: 3,410 persons
Stockholders: 1,310 persons
Company Profile
Founded in 1902 Meredith Corporation is a media and marketing conglomerate that specializes in content for American female audiences. Meredith oversees the publication of 18 magazine brands including Better Homes and Gardens, More, Fitness, and Family Circle that boast a combined circulation of 30 million [1]. Meredith’s local media division is comprised of 13 broadcast television stations, including network affiliates of CBS, FOX, MyNetworkTV, and NBC, which reach more than 10 million U.S. households [2]. Meredith Video Studios, a television production and distribution company, currently produces The Better Show, an information-talk show that airs in more than 160 markets nationwide [3].
Company Financials
Fiscal Year Ends: June 29
Most Recent Quarter: December 31, 2012
In its most recent financial statement, Meredith Corporation (NYSE: MDP) reported strong second quarter earnings as well as positive first half performance for the 2013 fiscal year. In the second quarter (October-December 2012) Meredith reaped $361 million in total company revenues, representing a 10-percent increase. Advertising revenues, climbed 18-percent to $217 million. Earnings per share increased 27-percent to a record high of $0.89, excluding a previously announced special charge of $0.10 per share.
Second quarter gains capped an overall successful first half of the 2013 fiscal year. In the first six months Meredith grossed $715 million in total company revenues, representing a 9-percent increase. Advertising revenues also climbed 15-percent. Earnings per share were $1.44, up 22-percent from fiscal 2012, excluding the special charge. [4]
Local Media Group Financials
Meredith’s Local Media Group, comprised of 13 television broadcast stations as well as Meredith Video Studios, accounted largely for the company’s financial gains in fiscal 2013. The second quarter of fiscal 2013 marked the most successful financial period ever for Local Media Group. The Group grossed $45 million in operating profits, representing a 65-percent increase compared to the second quarter of fiscal 2012. The Group’s revenues rose 32-percent to $111 million. [11]
In the first half of fiscal 2013 Local Media Group set a record high of $198 million in revenues, representing a 30-percent increase. The Group earned $72 million in operating profits, marking an astounding 90-percent increase from the 2012 fiscal year. Local Media Group’s digital advertising revenues increased 15-percent. Net political advertising revenues, boasting a record $38 million, bolstered overall advertising revenue increases because of November elections. [4]
Projections for Second Half of Fiscal 2013
Analysts expect Meredith Corporation’s earnings per share to decrease somewhat in the third quarter falling to $0.78 but predict they will rebound in the fourth quarter to $0.84 [5]. Analysts predict Local Media will better than Meredith’s other divisions, indicating that the Group’s operating profits thus far for fiscal 2013 are poised to nearly return to pre-financial crisis levels from fiscal 2007. [6]
Meredith Video Studios
Phone: (212) 499-2212
Current and Upcoming Productions
In January Meredith Video Studios announced The Better Show will be renewed for its seventh season, scheduled to begin airing September 9, 2013. The Better Show is a national syndicated info-talk program that focuses on topics similar to those featured in Meredith’s magazine publications including cooking, health and wellness, decorating, beauty and style, family and relationships, and more. The show aired its 1200th episode at the end of 2012 and continues to attract growing audiences and achieve strong ratings in all of its markets. In December 2012, The Better Show added an additional CBS Television Station, WWJ-TV in Detroit, to its vast array of more than 160 markets nationwide. [7]
Source: http://www.better.tv/
In March 2013, Meredith announced a partnership with the Hallmark Channel, which will begin airing The Better Show on its daytime-programming block in October 2013. The deal marks the culmination of years of partnership efforts between the two companies, which both specialize in content production for female audiences. The two-year licensing deal with Hallmark will also leverage Meredith’s gains in advertising, marketing and digital revenues. These gains represent Meredith’s efforts to extend its reach in TV and digital platforms as print ad revenue sources decelerate. [8]
Source: http://www.cozitv.com/shows/weekend-originals/Next-Great-Family-Band-198809121.html
In February 2013 Meredith Video Studios premiered a 30-minute reality television series Next Great Family Band on NBCUniversal’s COZI TV, a digital multicast TV network that is available in 38 million homes. The show concept revolves around 15 family music groups in their journeys to become the next Jackson 5, Jonas Brothers, or The Osmonds. [9]
Meredith Video Studios is also working on a show called The Aloha Project for a prime-time slot but has not yet released details on the project. [8]
Local Broadcast TV Stations
Meredith owns 12 local broadcast stations that reach more than 10 million households nationwide. The stations’ websites boast 58 million page views and 5 million unique visitors every month. [10]
CBS Atlanta WGCL 46 (Atlanta, GA)
Peachtree TV WPCH (Atlanta, GA) – owned by Turner Broadcasting, operated by Meredith
FOX 12 Oregon KPTV (Portland, OR)
WFSB Channel 3 (Hartford/New Haven, CT)
KCTV Channel 5 (Kansas City, MO)
FOX Carolina WHNS 21 (Greenville, SC – Asheville, NC)
WNEM Channel 5 (Flint/Saginaw, MI)
CBS 5 KPHO (Phoenix, AZ)
PDX TV KPDX (Portland, OR)
WSMV Channel 4 (Nashville, TN)
My KSMO TV (Kansas City, MO)
FOX 5 Vegas KVVU (Las Vegas, NV)
CBS 3 Springfield WSHM (Springfield/Holyoke, MA)
Inside CBS Atlanta
Source: http://www.cbsatlanta.com/
Recent changes in management at CBS Atlanta (WGCL 46), the control hub for eight of Meredith’s broadcast stations, may suggest upcoming transitions at the news outlet in Atlanta. Lane Michaelson, former news director at WCPO Cincinnati, was named WGCL’s news director in March 2013, replacing Eric Ludgood, who was let go after two years [12]. Trey Fabacher, former general manager at CBS-owned WWJ-WKBD Detroit, was appointed vice president and general manager in September 2012, succeeding Kirk Black, who resigned earlier that year in May [13]. Two members of the news team, anchor Guy Rawlings and meteorologist Justin Lock, left WGCL Atlanta last fall after working at the station for two years [14] [15]. Noting the station’s strong financial gains for the first half of fiscal year 2013, WGCL has demonstrated considerable growth; however, it still ranks around third or fourth in the ratings for the Atlanta market [16].
Sources:
- http://www.meredith.com/media_portfolio/magazines.html
- http://www.meredith.com/media_portfolio/broadcast.html
- http://meredith.mediaroom.com/index.php?s=2311&item=136809
- http://meredith.mediaroom.com/index.php?s=2311&item=136807
- http://topics.nytimes.com/top/news/business/companies/meredith_corporation/index.html
- https://www.schwab.wallst.com/RESEARCH/CLIENT/Stocks/Reports/ReportRetrieve?YYY101_z5K6INmijHk1FjmWAV7fGnKqTUMkBf3KrDDwSASw0NBmRKHjgX0yCsfyf4UmSlQA&reportType=SPStockReport&symbol=198517
- http://meredith.mediaroom.com/index.php?s=2311&item=136809
- http://adage.com.libezproxy2.syr.edu/article/media/hallmark-channel-daytime-lineup/240106/
- http://www.broadcastingcable.com/article/491817-Exclusive_Meredith_Cozi_TV_Partner_on_Music_Reality_Show.php
- http://www.meredith.com/media_portfolio/broadcast.html
- http://www.broadcastingcable.com/article/491495-Meredith_Station_Revenue_Up_32_.php
- http://www.broadcastingcable.com/article/492458-Michaelsen_Named_WGCL_News_Director.php
- http://www.broadcastingcable.com/article/489399-Fabacher_Named_WGCL_Atlanta_GM.php
- http://blogs.ajc.com/radio-tv-talk/2012/11/12/where-is-anchor-guy-rawlings-at-cbs-atlanta/
- http://blogs.ajc.com/radio-tv-talk/2012/12/15/justin-lock-leaves-cbs-atlanta/
- http://blogs.ajc.com/radio-tv-talk/2013/01/04/are-big-changes-forthcoming-at-cbs-atlanta-news-director-eric-ludgood-is-out/
