Washington, DC – November 11, 2019 – Cooley advised longstanding client Meredith Corporation on three strategic deals – two sales and one acquisition. The divestitures allow Meredith to focus on its core media assets, while the acquisition supports Meredith’s increased focus on consumer products, services and experiences. Partners Kevin Mills and Aaron Binstock led the teams advising Meredith on the transactions, which included:
- The sale of the Money media brand to Ad Practitioners, which owns a portfolio of digital brands, including ConsumersAdvocate.org. The sale included the popular website Money.co
- The purchase of Stop, Breathe & Think, a mobile mindfulness app paving the way to everyday emotional wellness with bite-size personalized content and activities based on user emotion
- The sale of a 60% equity stake in Viant Technology, an advertising technology company, back to co-founders Tim and Chris Vanderhook
In 2017, Cooley advised Meredith on its purchase of Time Inc. for $2.8 billion. The firm has since advised the company on the sale of several former Time Inc. assets, including the Time media brand, the Fortune media brand, the Sports Illustrated media brand, the Money media brand and Viant.
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