Meredith Buys Health Marketing Firm Big Communications; Alerts Investors To $16M After-tax Charge
This story was written by David Kaplan.
Magazine publisher Meredith (NYSE: MDP) has acquired health care marketer Big Communications. Like a number of other traditional media companies, Meredith want to ramp up its health care offerings. Ferndale, Mich.-based BC has relationships with companies involved in pharma, biotech and insurance and has handled print, digital and mobile initiatives for B2B and consumer purposes. The company, founded in 1994, will be folded into the Meredith Integrated Marketing unit. Terms were not disclosed.
In the same announcement, Meredith says it will take a $16 million after-tax charge in FYQ4 related to costs of repositioning its book operations and layoffs. Release
By David Kaplan