Meredith Charges On With Another Acquisition
Company picks up Selectable Media to bolster its digital ad products.
The Meredith Corporation began 2015 much like it ended 2014–with another acquisition. Tuesday, it announced the purchase of Selectable Media, a digital ad solutions company focused on native and audience targeting.
Terms of the deal were not disclosed. The company will retain all of Selectable Media's staff and plans to position CEO, Matt Minoff, to lead digital ad products and COO, Marc Rothchild, to lead all digital sales, marketing and account management.
This marks the third notable deal for Meredith in as many months, after its massive licensing deal with Martha Stewart Living Omnimedia and its acquisition of Mywedding.com.
Jon Werther, president of Meredith Digital, tells FOLIO: there were several factors that led to the deal.
"Selectable Media's industry-leading native and engagement-based advertising capabilities add to our stable of platform– and data–centric advertising solutions, which continue to drive significant improvements in advertising effectiveness and purchase-funnel-related metrics for our clients," adding "And are ideally suited for mobile environments. In combining Selectable Media's innovative ad technology platform and extended network with Meredith's premium branded content, highly-engaged audience and rich first-party data, the end result is a very powerful and unique advertising proposition for clients."
Werther also says that the Selectable Media will open up new business opportunities that were previously out of network as well as increase the scope of new solutions for its existing clients.
By the sounds of things, Meredith isn't done buying companies just yet. Not only has the company been extremely aggressive in recent months, Werther admits Meredith is keeping its eyes open, without specifically hinting at where it's looking. "We continue to assess opportunities to strategically partner with, and acquire companies that bolster our unique combination of best-in-class branded environments, engaged audiences, rich first-party data and ad technology platforms," He says.
So in other words, there's presumably more to come this year.