Gruner & Jahr to Sell Magazines to Meredith
- Share via
From Associated Press
Meredith Corp., the publisher of Ladies’ Home Journal, said it was buying Family Circle and three other magazines from German publisher Gruner & Jahr for $350 million.
The deal also includes the magazines Child, Fitness and Parents and in effect marks an exit from the U.S. magazine market for Gruner & Jahr, which had suffered a series of setbacks in its efforts to expand here. The sale is expected to close June 30.
Meredith rose $2.64, or 6%, to $50.28 on the New York Stock Exchange.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
