Buisnesses For Sale

BREAKING: Meredith Buys Every Day with Rachael Ray from Reader's Digest

The transaction should be finalized this fall, adding to the expansion of the category Power of Meredith, which included the launch of Recipe. Com and the acquisition of EatingWell Media Group earlier this year.

However, Dan Lagan, President, North America for the GDR tells FOLIO:. "We had very good conversations with Meredith is a bit premature, we are not in the line, but I would say that the conversations have been positive."

A spokesman for Meredith said: "Although no contract has been signed at this stage, all parties have agreed to work towards a mutually beneficial outcome that will result in Meredith acquire the assets of the GDR and the execution of a license agreement with Rachel Ray for the operation of every day with Rachael Ray magazine and its related content and digital assets."

Reader's Digest Association announced Wednesday that he put every day with Rachael Ray on sale as part of a series of measures to focus its resources on its "master brands", including Reader's Digest, the Taste of The Handyman Home and Family.

After performing printing on the side for the GDR, Every Day with Rachael Ray is down 21 percent in advertising pages for the first nine months of 2011, according to the Information Office of the publishers. Meanwhile, Readers Digest was up 10.7 percent in advertising pages, Taste of Home is up 2.7 percent and the family handyman was up 11.1 percent over the same period, by PIF.

"Because our agreement limited our participation in the production of any magazine, we were unable to develop the brand and its content across multiple platforms," ​​said President GDR and CEO of Robert E. Guth. "In the future, it was not an adjustment of our master brand strategy."

Meanwhile, every day with Rachael Ray, editor in chief Liz Vaccariello has been named to the new position of chief content officer and editor for Reader's Digest Community, a position that will "ensure that there is a unified voice for the creation of Reader Digest brand on all platforms, and will lead the editorial direction and brand strategy through Reader Digest magazines, books and digital products in the U.S.

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