DES MOINES, Iowa, Nov. 29, 2017 /PRNewswire/ -- Meredith
Corporation (NYSE: MDP; meredith.com), one of America's leading
media and marketing companies, will present at the UBS
45th Annual Global Media & Communications
Conference at 3:30 p.m. EST on
December 5, 2017 in New York.
Meredith's Chairman and Chief Executive Officer, Stephen Lacy; President and Chief Operating
Officer, Tom Harty; and Chief
Financial Officer, Joe Ceryanec will
discuss Meredith's key strategic initiatives, including the
Company's agreement to acquire Time Inc. and create a premier media
and marketing company serving nearly 200 million American
consumers.
A copy of the presentation and access to the webcast will be
available on the Investor Relations portion of meredith.com.
Additional Information
The offer has not yet commenced, and this communication is
neither an offer to purchase nor a solicitation of an offer to sell
any shares of the common stock of Time Inc. or any other
securities. On the commencement date of the offer, a tender offer
statement on Schedule TO, including an offer to purchase, a letter
of transmittal and related documents, will be filed with the SEC by
purchaser and a Solicitation/Recommendation Statement on Schedule
14D-9 will be filed with the SEC by Time Inc. The offer to purchase
shares of Time Inc.'s common stock will only be made pursuant to
the offer to purchase, the letter of transmittal and related
documents filed as a part of the Schedule TO. INVESTORS AND
SECURITY HOLDERS ARE URGED TO READ BOTH THE TENDER OFFER STATEMENT
AND THE SOLICITATION/RECOMMENDATION STATEMENT REGARDING THE OFFER,
AS THEY MAY BE AMENDED FROM TIME TO TIME, WHEN THEY BECOME
AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. The
tender offer statement will be filed with the SEC by purchaser, and
the solicitation/recommendation statement will be filed with the
SEC by Time Inc. Investors and security holders may obtain a free
copy of these statements (when available) and other documents filed
with the SEC at the website maintained by the SEC at www.sec.gov or
by directing such requests to the Information Agent for the offer,
which will be named in the tender offer statement.
Forward-Looking Statements
This press release contains forward-looking statements. You can
generally identify forward-looking statements by the use of
forward-looking terminology such as "anticipate," "believe,"
"continue," "could," "estimate," "expect," "explore," "evaluate,"
"intend," "may," "might," "plan," "potential," "predict,"
"project," "seek," "should," or "will," or the negative thereof or
other variations thereon or comparable terminology. These
forward-looking statements are only predictions and involve known
and unknown risks and uncertainties, many of which are beyond
Meredith's, purchaser's and Time Inc.'s control.
Statements in this document regarding Meredith, purchaser, and
Time Inc. that are forward-looking, including, without limitation,
projections as to the anticipated benefits of the proposed
transaction, the methods that will be used to finance the
transaction, the impact of the transaction on anticipated financial
results, the synergies from the proposed transaction, and the
closing date for the proposed transaction, are based on
management's estimates, assumptions and projections, and are
subject to significant uncertainties and other factors, many of
which are beyond the control of Meredith, purchaser and Time Inc.
Important risk factors could cause actual future results and other
future events to differ materially from those currently estimated
by management, including, but not limited to: the timing to
consummate the proposed transaction; the risk that a condition to
closing of the proposed transaction may not be satisfied and the
transaction may not close; any failure to obtain equity or debt
financing; the risk that a regulatory approval that may be required
for the proposed transaction is delayed, is not obtained or is
obtained subject to conditions that are not anticipated; the
ability to achieve the synergies and value creation contemplated by
the proposed transaction; management's ability to promptly and
effectively integrate the businesses of the two companies; and the
diversion of management time on transaction-related
issues.
For more discussion of important risk factors that may
materially affect Meredith, purchaser and Time Inc., please see the
risk factors contained Meredith's Quarterly Report on Form 10-Q for
the quarter ended September 30, 2017,
and Time Inc.'s Quarterly Report on Form 10-Q for the quarter ended
September 30, 2017, both of which are
on file with the SEC. Except as specifically noted, information on,
or accessible from, any website to which this website contains a
hyperlink is not incorporated by reference into this website and
does not constitute a part of this website.
No assurances can be given that any of the events anticipated by
the forward-looking statements will transpire or occur, or if any
of them do occur, what impact they will have on the results of
operations, financial condition or cash flows of Meredith,
purchaser or Time Inc. None of Meredith, purchaser or Time Inc.
assumes any duty to update or revise forward-looking statements,
whether as a result of new information, future events or otherwise,
as of any future date.
About Meredith Corporation
Meredith Corporation (NYSE: MDP; www.meredith.com) has been
committed to service journalism for 115 years. Today, Meredith uses
multiple distribution platforms – including broadcast television,
print, digital, mobile and video – to provide consumers with
content they desire and to deliver the messages of its advertising
and marketing partners.
Meredith's Local Media Group includes 17 television stations
reaching more than 11 percent of U.S. households. Meredith's
portfolio is concentrated in large, fast-growing markets, with
seven stations in the nation's Top 25 – including Atlanta, Phoenix, St.
Louis and Portland – and 13
in Top 50 markets. Meredith's stations produce 700 hours of local
news and entertainment content each week, and operate leading local
digital destinations.
Meredith's National Media Group reaches 110 million unduplicated
women every month, including more than 70 percent of U.S.
Millennial women. Meredith is the leader in creating and
distributing content across platforms in key consumer interest
areas such as food, home, parenting and lifestyle through
well-known brands such as Better Homes & Gardens, Allrecipes,
Parents and Shape. Meredith also features robust brand licensing
activities, including more than 3,000 SKUs of branded products at
5,000 Walmart stores across the U.S. and at walmart.com. Meredith
Xcelerated Marketing is an award-winning, strategic and creative
agency that provides fully integrated marketing solutions for many
of the world's top brands.
Meredith's balanced portfolio consistently generates substantial
free cash flow, and the Company is committed to growing Total
Shareholder Return through dividend payments, share repurchases and
strategic business investments. Meredith's current annualized
dividend of $2.08 per share yields
approximately 3 percent. Meredith has paid a dividend for 70
straight years and increased it for 24 consecutive years.
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SOURCE Meredith Corporation