Meredith Corporation has reached agreement in principle with author and American television personality Rachael Ray for Meredith to acquire Every Day with Rachael Ray magazine and its related digital media assets from the Reader’s Digest Association. The transaction is expected to close before the end of the year. Terms of the deal were not disclosed.
“The acquisition of Every Day with Rachael Ray will further extend our leadership and deepen our reach in providing women with best-in-class food content, while offer advertisers multiple avenues to reach them,” said Meredith National Media Group President Tom Harty. “We are excited to add this well-recognized franchise to our strong portfolio of national media brands.”
“We are constantly looking for strategic acquisitions and investment opportunities like this to expand our reach and create shareholder value,” said Meredith Chief Development Officer John Zieser.
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