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Meredith in talks to split the company

Y2kTheNewOldies

Y2kTheNewOldies

https://www.ftvlive.com/sqsp-test/2020/9/11/meredith-is-looking-to-split-up-company


Meredith Corporation is hurting for money and while they tried cutting employees’ pay, issued hiring freezes, and made other cuts, they have one more thing they want to try.

Meredith is looking to split the company into two.

Meredith is proposing an amendment to its corporate charter that would allow for the company to split its national media business and its local media business.

In other words, they want to split their publishing business of magazines and their local TV business.

Meredith owns 18 TV stations across 13 states, including the WGCL in Atlanta, KMOV in St. Louis and KPHO/KTVK in Phoenix.

So, why would Meredith want to do this?

Easy, it makes it easier to put the groups up for sale.
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Note this is in discussions for now.
 
At WFSB in Hartford they cut 28 year veteran Dennis House the day after his 28th Anniversary. Also out as of this past week morning Co-Anchor Eric Parker, Weekend Meteorologist Mike Cameron, the entire Art (Graphics Department), an Assistant News Director, and a news producer. Interestingly enough Mike Cameron has 2 replacements - Meteorologist Melissa Cole (who previously did fill-in work and is a contributor to WFSB's lifestyle show Better Connecticut) is doing the weather during the morning newscasts on the weekend. There is another female doing the weather at night on the weekend.
 
https://www.desmoinesregister.com/s...80-jobs-minimal-impact-des-moines/5824016002/

Update Meredith is reporting 180 people to be removed from Meredith for Layoff reasons.

Meredith Corporation laid off 180 workers this week, but its Des Moines offices avoided most of the cuts.

The layoffs included 130 employees from its local media group, which owns 17 TV stations. The rest of the cuts came from its national media group, which publishes magazines such as People and Better Homes & Gardens.

The Des Moines-based media company has suffered in the midst of the broader economic recession because of the COVID-19 pandemic.
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