NEW YORK, NY AND SAN FRANCISCO, CA - Meredith Corporation (NYSE: MDP), one of America's leading media and marketing companies, today announced a minority investment in Real Girls Media Network, a group of social communities connecting millions of women online. This move enhances the depth and breadth of Meredith Interactive Media's offerings and capabilities, chiefly in the area of social networking.
Specifically, the agreement adds Real Girls Media Network traffic to Meredith's network of sites, increasing Meredith's unique visitors to 15 million each month. This places Meredith in the Top 5 of women's networks as measured by both ComScore and Quantcast, based on October 2008 traffic.
As part of this strategic investment, Meredith and Real Girls Media will combine their inventory and sales forces to deliver premium branded content, a valuable participatory community of women and high quality scale to advertisers online. The relationship also allows Meredith to take advantage of Real Girls Media's proprietary technology platform to enhance existing sites.
"Meredith is already one of the leading online providers of information for women on the topics that matter most to them and their families," says Jack Griffin, President, Meredith Publishing Group. "This new alignment with Real Girls Media -- combined with our upcoming launch of Mixing Bowl, a social community built around meals and meal-planning -- further deepens our ability to serve consumers online. For our marketing partners, it means a tremendous opportunity to connect with the most engaged female audiences at the greatest scale."
The Real Girls Media Network includes DivineCaroline.com -- its owned and operated marquee site -- as well as a premium network of branded sites for women. DivineCaroline.com is a unique platform that publishes user-generated content alongside expert-guided editorial to offer consumers a community in which to share experiences and form connections. This agreement will link consumers between Real Girls Media Network and Meredith branded content and sites.
"Meredith's in-depth content and trusted brands are a perfect fit for these developed communities," said Kate Thorp, CEO and co-founder of Real Girls Media Network. "Our audiences bear a strong resemblance to each other -- motivated and passionate women who seek ways to get the most out of life. This union will better serve those consumers, and present them with new possibilities to share information and build personal connections."
Real Girls Media Network, founded in 2006, will continue to be based in San Francisco. Terms of the deal were not disclosed, and it will not have a material effect on Meredith's fiscal 2009 financial performance.
"With our ability to connect to the consumer on multiple content platforms, our marketing relationships, our trusted brands, and our 85 million name database, Meredith is the perfect strategic partner for high quality social and interactive communities," said John Zieser, Meredith Chief Development Officer. "We are actively seeking win-win partnerships and selective acquisitions to expand our network."
About Meredith Corporation
Meredith Corporation (http://www.meredith.com/) is the leading media and marketing company serving American women. Meredith combines well-known national brands - including Better Homes and Gardens, Parents, Ladies' Home Journal, Family Circle, American Baby, Fitness and More -- with local television brands in fast growing markets. Meredith is the industry leader in creating content in key consumer interest areas such as home, family, health and wellness and self-development. Meredith then uses multiple distribution platforms -- including print, television, online, mobile and video -- to give consumers content they desire and to deliver the messages of its marketing partners. Additionally, Meredith uses its many assets to create powerful custom marketing solutions for many of the nation's top brands and companies. The goals of these programs are to increase consumer loyalty and produce repeated consumer interaction. In the last two years, Meredith has significantly added to its capabilities in this area through the acquisition of cutting-edge companies in areas such as online, word-of-mouth and database marketing. Meredith employs approximately 3,000 people throughout the United States. Meredith's fiscal 2008 annual revenues were $1.6 billion.
About Real Girls Media Network
Real Girls Media Network, Inc., a digital network created for women, by women, is a San Francisco based, privately held company backed by 3i and Walden Ventures. DivineCaroline™ and RGM™ are trademarks of Real Girls Media Network, Inc. More information is available at http://www.realgirlsmedia.com/ .
Meredith Corporation (http://www.meredith.com/)
Patrick Taylor | +1 212 551 6984 | [email protected],
Art Slusark | +1 515 284 3404 | [email protected]
Real Girls Media Network, Inc. (http://www.realgirlsmedia.com/)
Rebecca Watson | +1 415 295 8534 | [email protected]
Technology M&A Practice (Formerly Pagemill Partners) served as financial advisor to Real Girls Media Network, Inc.