WEDDING BELLS: Meredith Corp. seems to have marriage on its mind — at least when it comes to buying titles. A month after inking a licensing deal with Martha Stewart Living Omnimedia to purchase the rights to its flagship magazines Martha Stewart Living and Martha Stewart Weddings, Meredith has snapped up mywedding.com. The site helps soon-to-be-wed couples plan their weddings with free planning tools and wedding-centric content that connects consumers with local, national and international wedding professionals and venues.
This story first appeared in the November 18, 2014 issue of WWD. Subscribe Today.
The purchase bulks up Meredith’s portfolio of titles aimed at Millennials, which includes Parents and, to some extent, Allrecipes.com. With other titles such as More and Better Homes & Gardens — plus now Martha Stewart Living — that appeal to an, ahem, more mature readership, skewing younger is clearly on Meredith’s mind in this age of social media.
A spokesman declined to disclose the purchase price of the Web site, but said it is “not accretive to earnings.” In other words, Meredith did not break the bank with the acquisition. He also offered that the purchase of the site would allow for “synergies” with content from Martha Stewart Weddings.
The company highlighted its 10-year licensing deal with MSLO, which includes the operations of Weddings’ quarterly print magazine and its Web site. Editorial operations will still be run by MSLO. But, with its newfound reach into the wedding space, Meredith hopes to bring in new advertisers.
“With its access to younger consumers at such an important time in their lives, strong local sales model, and digital expertise, mywedding.com is a valuable addition to our portfolio,” said Meredith National Media Group president Tom Harty. “We believe we can further grow mywedding.com’s consumer audience, while at the same time developing the next generation of consumers for Meredith brands and creating new sales and marketing opportunities for our clients.”
Meredith said there would not be any layoffs or editorial reshuffling as a result of the purchase — in other words, no divorces just yet.