Why Meredith Stock Was Skyrocketing Higher Today

Why Meredith Stock Was Skyrocketing Higher Today
·2 min read

Shares of Meredith Corporation (NYSE: MDP) shot through the roof Friday, surging as much as 31.1%. Reports emerged late yesterday that the magazine publisher was in advanced talks to be acquired by IAC/InterActiveCorp (NASDAQ: IAC) in a deal valued at $2.5 billion. Owning Meredith, the publisher of such high-profile magazines as People, Better Homes & Gardens, InStyle, Entertainment Weekly, and Martha Stewart Living, would be a good fit for IAC.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting