Meredith (MDP) is one of the nation's oldest media and
publishing companies, having been founded in 1902 as an agricultural publisher.
More impressively, the firm has paid uninterrupted dividends for 71 consecutive
years and has increased its dividend in each of the last 25 years.
At its core, Meredith provides consumers with the content
they want by leveraging print, digital, mobile, video, and broadcast TV media
platforms. Advertising is the company's largest source of revenue.
Meredith organizes its various media businesses into two
segments:
- Local Media (31% of sales, 66% of operating profits): owns 17 local TV stations including: seven CBS affiliates, five FOX affiliates, two MyNetworkTV affiliates, one NBC affiliate, one ABC affiliate, and two independent stations. This segment also includes 12 websites and about 30 applications focused on news, sports, and weather-related information. The local TV stations reach 11% of all U.S. households.
- National Media (69% of sales, 34% of operating profits): publishes magazines targeted to women, including well known titles such as: People, Better Homes & Gardens, InStyle, Allrecipes, Real Simple, Shape, Southern Living, and Martha Stewart Living. This segment also runs approximately 60 websites and over a dozen smartphone applications hosting special interest publications.
Nationally, the firm reaches over 175 million American
consumers directly, has more than 120 million magazine readers, paid circulation
in excess of 40 million subscribers, and 140 million monthly unique visitors to
its websites. Meredith also reaches 80% of all millennial women, and 65% of all
Latinas.
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