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Meredith sells Travel + Leisure to Wyndham Destinations for $100 million


Wall Street Journal: Wyndham Destinations Inc. is buying the Travel + Leisure publication from Meredith Corp. for $100 million, in a deal that would expand Wyndham’s business beyond its core vacation-ownership operations. In addition to its eponymous magazine, Travel + Leisure operates membership-based travel services. Wyndham runs 230 timeshare resorts, with more than 4 million members across its business lines. The combined company would have 18 resort, travel-club and lifestyle-travel brands. Des Moines-based Meredith will continue publishing Travel + Leisure under a 30-year renewable licensing agreement, with the Travel + Leisure staff remaining as Meredith employees, the companies said. The goal of the combined company will be to expand its membership travel-club businesses, offer new travel services and expand licensing agreements.

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