Barry Diller’s IAC/InterActiveCorp . has reached a roughly $2.7 billion deal to buy magazine publisher Meredith Corp. , a bet on online publishing that will combine brands such as People, Better Homes & Gardens and Investopedia.
As a result of the deal, Des Moines-based Meredith will become part of Dotdash, IAC’s digital-publishing division, the companies said Wednesday. The company will be called Dotdash Meredith and run by Dotdash Chief Executive Neil Vogel, they said. The deal is expected to close by year’s end.
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Source:" WSJ "