Meredith Corp. sells Money brand
Meredith Corp. announced today it has closed on the sale of the Money brand to Ad Practitioners LLC, a portfolio of digital brands that includes ConsumersAdvocate.org. Terms of the transaction were not disclosed. The sale includes the Money.com website, which averages 4 million monthly unique visitors, according to comScore. Under the agreement, 14 employees who work on Money.com at Meredith’s Liberty Street offices in New York City will remain Meredith employees until at least Jan. 31, 2020. Meredith acquired the Money brand as part of its January 2018 acquisition of Time Inc. After a portfolio analysis, Meredith decided to sell noncore properties. Assets sold to date have included the Time, Fortune and Sports Illustrated brands, in addition to some international holdings.