Ad Practitioners Announces Acquisition of MONEY.COM
Ad Practitioners Announces Acquisition of MONEY.COM |
[22-October-2019] |
DORADO, Puerto Rico, Oct. 22, 2019 /PRNewswire/ -- Ad Practitioners, LLC has acquired MONEY.COM and related assets (MONEY), a trusted source of financial advice since 1972, from Meredith Corporation (NYSE: MDP). Whether refinancing a home, shopping for a yoga mat, insuring a car, or saving for retirement, consumers rely on Ad Practitioners to connect them with the products and services that enrich, de-risk and simplify their lives. The acquisition of MONEY further strengthens Ad Practitioners' ability to serve its audience by adding a trusted and historic voice to its portfolio of digital brands. "We are incredibly excited to open a new chapter in MONEY's almost 50-year conversation with consumers," said Gregory Powel, CEO of Ad Practitioners. "As a lifelong reader and fan of MONEY, I'm committed to investing in this iconic brand and realizing its full potential." Meredith Chief Development Officer John Zieser added, "We are pleased to find a great home for the MONEY brand and wish all parties great success under the new ownership." Ad Practitioners was represented by Pietrantoni Mendez & Alvarez LLC and The Jordan, Edmiston Group. Meredith Corporation was represented by Cooley and Citi. J.P. Morgan provided financing. Financial terms were not disclosed. ABOUT AD PRACTITIONERS LLC ABOUT MONEY ABOUT MEREDITH CORPORATION
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Company Codes: NYSE:MDP |
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