Meredith Completes American Baby Group Buy

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Meredith Corp. yesterday announced that it completed its acquisition of American Baby Group from Primedia Inc.

The $115 million purchase included the American Baby title as well as Childbirth and First Year of Life magazines; Hispanic titles Espera, Primeros 12 Meses, and Healthy Kids en Espanol; Web sites and; television programs American Baby and Healthy Kids; Baby Faire expos and product shows; sampling programs; and custom publications.

According to a statement from Meredith, "the purchase price represents a multiple of approximately 10 times American Baby Group's projected calendar 2003 EBITDA and it expects the transaction to be accretive to earnings per share beginning with the second half of fiscal 2003, and in subsequent years."

The new magazine titles join Meredith Publishing Group's 16 magazine brands and about 150 special-interest publications.

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