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MDP

Meredith

$54.25

-0.25 (-0.46%)

, TIME

Time Inc.

$0.00

(0.00%)

08:26
03/19/18
03/19
08:26
03/19/18
08:26

Meredith to cut up to 300 jobs, WSJ reports

Meredith (MDP) is planning to eliminate 200 to 300 employees as soon as this week and unveil a new sales structure with a greater focus on specific magazine brands after its recently completed takeover of Time Inc. (TIME), the Wall Street Journal reports, citing people familiar with the situation. The cuts, which will decrease duplicative corporate staffing, will primarily affect Time Inc's corporate staff in New York and are part of Meredith's effort to slash $400M to $500M in costs over the next two years. Reference Link

MDP

Meredith

$54.25

-0.25 (-0.46%)

TIME

Time Inc.

$0.00

(0.00%)

MDP Meredith
$54.25

-0.25 (-0.46%)

11/28/17
JEFF
11/28/17
UPGRADE
Target $80
JEFF
Buy
Meredith upgraded to Buy from Hold at Jefferies
Jefferies analyst John Janedis upgraded Meredith (MDP) to Buy and raised his price target for the shares to $80 from $56. The analyst believes the acquisition of Time Inc. (TIME) is highly accretive and creates "compelling" value. He believes the market, over time, will give Meredith credit for an improved long-term trajectory.
12/01/17
SBSH
12/01/17
DOWNGRADE
SBSH
Neutral
Meredith downgraded to Neutral from Buy at Citi
01/11/18
BNCH
01/11/18
NO CHANGE
BNCH
Strong political environment for broadcasters may be overlooked, says Benchmark
Benchmark analyst Daniel Kurnos said he thinks the particularly strong political environment for broadcasters in 2018 may be being overlooked. Kantar Media/CMAG predicts a 14% increase in 2018 political spending versus 2014 levels, which is ahead of the 8-12% increase most common during comparable political cycles, the analyst noted. Nexstar (NXST) has the greatest overall political exposure among broadcasters in contested states, said Kurnos, who forecasts Nexstar and Meredith (MDP) can grow political revenue 7% and 15%, respectively, compared to 2014. Among the other broadcasters he covers - Gray (GTN), TEGNA (TGNA) and E.W. Scripps (SSP) - Kurnos models flat political revenue vs. 2014 but said this may be "a highly conservative initial outlook."
01/31/18
GABE
01/31/18
UPGRADE
GABE
Buy
Meredith upgraded to Buy from Hold at Gabelli
Gabelli analyst Barry Lucas upgraded Meredith (MDP) to Buy from Hold based on conviction management will be able to extract $400M-$500M of synergies from the Time Inc acquisition. The analyst notes there are risks to the upgrade including secular challenges in magazine publishing and increased leverage.
TIME Time Inc.
$0.00

(0.00%)

11/27/17
WELS
11/27/17
NO CHANGE
WELS
Meredith, Time Inc. combination should yield cost synergies, says Wells Fargo
Wells Fargo analyst Eric Katz notes that Meredith (MDP) and Time Inc. (TIME) finally came to terms on a deal, with the former acquiring the latter for $18.50/share in cash. The analyst believes the combination should yield substantial cost synergies.
11/27/17
WELS
11/27/17
UPGRADE
WELS
Outperform
Wells Fargo upgrades Meredith with Street-high target after Time deal
Wells Fargo Securities analyst Eric Katz upgraded Meredith (MDP) to Outperform from Market Perform and raised his price target for the shares to $76 from $54. The media company in midday trading is up 9%, or $5.75, to $6.75. The analyst sees the Time Inc. (TIME) acquisition yielding "substantial" cost synergies that will fall to EBITDA. His new price target is the high among sell-side analysts, according to data compiled by Bloomberg.
11/28/17
GABE
11/28/17
DOWNGRADE
GABE
Sell
Time Inc. downgraded to Sell from Hold at Gabelli
Gabelli downgraded Time Inc (TIME) to Sell following the acquisition by Meredith (MDP) for $18.50 per share in cash. Analyst Barry Lucas does not expect any other bidders or strategic buyers to emerge.

TODAY'S FREE FLY STORIES

LABD

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VERU

Veru Inc.

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EEM

MSCI Emerging Markets Index

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EYEN

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MSFT

Microsoft

$108.24

-0.81 (-0.74%)

, AMZN

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$1,895.51

9.52 (0.50%)

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Periodicals
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MSFT

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AMZN

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EWW

iShares MSCI Mexico

$49.56

-0.065 (-0.13%)

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UUP

PowerShares DB US Dollar Index Up

$25.50

0.01 (0.04%)

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UDN

PowerShares DB US Dollar Index Down

$21.24

-0.01 (-0.05%)

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SESN

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$1.89

0.09 (5.00%)

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CHAP

Chaparral Energy

$17.77

(0.00%)

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Chaparral raises FY18 average daily production view to 19.0MBoe/d-20.0MBoe/d »

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UHS

Universal Health

$124.44

-0.01 (-0.01%)

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THC

Tenet

$32.54

0.28 (0.87%)

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HD

Home Depot

$194.11

-2.19 (-1.12%)

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AAP

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HCA

HCA Healthcare

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MMS

Maximus

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CYH

Community Health

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CHAP

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AAP

Advance Auto Parts

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SYY

Sysco

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