Barry Diller’s IAC in talks to buy Meredith
Wall Street Journal: IAC/InterActiveCorp. is in advanced talks to acquire Des Moines-based magazine publisher Meredith Corp., owner of brands including People and Better Homes & Gardens, according to people familiar with the situation, in an effort to build more scale in online publishing. The deal, which is expected to be valued at more than $2.5 billion, would vastly expand IAC’s collection of online publications, which include Brides, Serious Eats and TripSavvy. It would also bulk up IAC’s portfolio of websites, which has shrunk recently after the company moved to spin off online-dating behemoth Match Group Inc. and video-hosting and sharing platform Vimeo Inc. IAC, led by Chairman Barry Diller, has pulled ahead of another group vying for Meredith that includes Phoenix-based private equity firm Najafi Cos. and could strike a deal in the coming days, some of the people said. There is no guarantee there will be a deal, as the talks could still fall apart.