Both Meredith Corporation and The Walt Disney Company are familiar names to RBR-TVBR readers. However, this transaction doesn’t involve broadcasting assets on either side.
Meredith announced that it has signed a deal with Disney Publishing Worldwide to acquire the assets of FamilyFun. The acquisition includes the highly popular magazine, with an audience of 6 million and rate base of 2.1 million; its special interest publications; and its ToyHopper and digital magazine applications.
The deal is expected to close within 30 days. Financial terms were not disclosed, but Meredith said it will not have a material effect on the company’s 2012 financial performance.
“We are delighted to add the FamilyFun brand to our expanding media portfolio,” said Meredith National Media Group President Tom Harty. “This acquisition further strengthens our leadership position and reach among women in both the parenthood and food spaces, and offers our advertisers additional channels to reach these consumers.”
“FamilyFun’s rich content has led to the growth of its loyal readership base over its 20-year history, and we look forward to watching the magazine continue to grow under its new owner,” said Russell Hampton, President, Disney Publishing Worldwide. “Moving forward, Disney Publishing Worldwide will focus on our core children’s magazine and book businesses, our rapidly growing digital initiatives, and our Disney English language learning program.”
FamilyFun targets moms with kids ages 3-12 with a focus on family activities such as cooking, crafts, celebrations and travel. Launched in 1991, FamilyFun has a median age of 35, and 60 percent of its readers are college-educated. FamilyFun will report to Carey Witmer, President of the Meredith Parents Network. The first issue of FamilyFun published by Meredith is expected to be March 2012.
Disney Interactive’s Moms and Family online portfolio will retain all existing FamilyFun content for digital use.
