Meredith Corp. buys Genex and New Media Strategies
Media and marketing company Meredith Corp. has acquired interactive marketing services firm Genex as well as New Media Strategies, an interactive word-of-mouth marketing firm.
The acquisitions will be held under Meredith Integrated Marketing, the company's business-to-business unit that provides corporations and brands with custom print and online communications for their customers.
The purchase will have no effect on Meredith's financial performance in fiscal 2007, according to the Los Angeles-based Genex, which specializes in online customer relationship marketing and has clients like Honda, Toyota, Citigroup and KB Home.
New Media Strategies, Washington, brings clients ABC, Coca Cola, AT&T, Ford, Sony and Unilever to the deal.
AdMedia Partners represented both sellers. Sale prices were not disclosed.
This is the second acquisition in less than a year for Des Moines, IA-based Meredith, publisher of Better Homes and Gardens. In April the company acquired O'Grady Meyers, a Los Angeles-based interactive marketing services firm with experience in food, packaged goods and health care.
Meredith's consumer database contains more than 85 million names and enables television and magazine advertisers to target marketing campaigns precisely.