Meredith purchasing Genex, New Media |
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Published
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Wed, 10 Jan 2007 13:24
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DES MOINES, Iowa (AFX) - Meredith Corp., publisher of Better Homes and Gardens and Ladies Home Journal, said Wednesday it is buying interactive marketing companies Genex and New Media Strategies.Financial terms of the deals were not disclosed.Meredith said the acquisitions will not materially affect its financial performance in fiscal 2007.With about 100 employees, Los Angeles-based Genex is a marketing services firm specializing in online customer relationship marketing. New Media is a word-of-mouth marketing company. Both will become units of Meredith Integrated Marketing, the company's business-to-business unit that provides corporations and brands with custom print and online communications for their customers.New Media Chief Executive Pete Snyder will continue to lead the 700-employee company after the acquisition. The company will also continue to operate under the New Media brand at its Arlington, Va.-based headquarters.These deals mark the second time in nine months that Meredith has made marketing acquisitions. The company first expanded its online marketing capabilities with the April acquisition of O'Grady Meyers, a Los Angeles-based interactive marketing services firm with experience in the food, packaged goods and health care categories.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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