Tuesday, January 24, 2012

Meredith Corporation doubles online reach by buying Reader's Digest's Allrecipes.com

As part of a spree of acquisition, particularly in the food and recipe area, Meredith Corporation has confirmed that it is buying Allrecipes.com from Reader's Digest Association (RDA). The resulting $175 million transaction means that the 13-year-old site, which reaches 100 million Americans and has sister sites in 22 countries, will double the Meredith Women's Network (Better Homes and Gardens, Family Circle, Fitness, More etc.) to nearly 40 million unduplicated monthly visitors, according to a story on Folio:.
The deal will complement Meredith's October 2011 purchase of Every Day with Rachael Ray (also from RD) and Eating Well in July 2011.
Meredith's recently launched Recipe.com (in print and digital) will remain separate from Allrecipes for now.
RDA announced its plans to focus on its “master brands” in fall 2011, [said the Folio: story] which include Reader’s Digest, Taste of Home and The Family Handyman. Since the announcement, the publisher continues to par down its content portfolio along with its staff; the publisher cut 150 positions worldwide in December.



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