Ad Practitioners Announces Acquisition of MONEY.COM
Oct 22, 2019, 09:30 ET
DORADO, Puerto Rico, Oct. 22, 2019 /PRNewswire/ -- Ad Practitioners, LLC has acquired MONEY.COM and related assets (MONEY), a trusted source of financial advice since 1972, from Meredith Corporation (NYSE: MDP).
Whether refinancing a home, shopping for a yoga mat, insuring a car, or saving for retirement, consumers rely on Ad Practitioners to connect them with the products and services that enrich, de-risk and simplify their lives. The acquisition of MONEY further strengthens Ad Practitioners' ability to serve its audience by adding a trusted and historic voice to its portfolio of digital brands.
"We are incredibly excited to open a new chapter in MONEY's almost 50-year conversation with consumers," said Gregory Powel, CEO of Ad Practitioners. "As a lifelong reader and fan of MONEY, I'm committed to investing in this iconic brand and realizing its full potential."
Meredith Chief Development Officer John Zieser added, "We are pleased to find a great home for the MONEY brand and wish all parties great success under the new ownership."
Ad Practitioners was represented by Pietrantoni Mendez & Alvarez LLC and The Jordan, Edmiston Group. Meredith Corporation was represented by Cooley and Citi. J.P. Morgan provided financing. Financial terms were not disclosed.
ABOUT AD PRACTITIONERS LLC
Founded in 2016, Ad Practitioners matches world-class brands with engaged audiences across over 150 categories, from personal finance, health, home, and lifestyle to insurance, software and beyond. The Company owns a portfolio of digital brands, including ConsumersAdvocate.org. Ad Practitioners is headquartered in Dorado, Puerto Rico. For more information, please visit www.adpractitioners.com
ABOUT MONEY
MONEY is a digital source of personal stories, candid conversations, and useful information about money and the way it affects our lives. With a nearly 50-year legacy of providing trustworthy advice on every aspect of personal finance, MONEY helps its readers lead a richer life—in every sense of the word. Signature franchises include a bevy of Best-In categories such as Best Colleges, Best in Travel, Best Banks, Best Credit Cards, and Best Places to Live, with an aim to capitalize on your finances and promote your well-being. Learn more at MONEY.com.
ABOUT MEREDITH CORPORATION
Meredith Corporation has been committed to service journalism for more than 115 years. Meredith uses multiple distribution platforms—including broadcast television, print, digital, mobile and video—to provide consumers with content they desire and to deliver the messages of its advertising and marketing partners. Meredith's National Media Group reaches more than 190 million unduplicated American consumers every month, including over 90 percent of U.S. millennial women. Meredith is the No. 1 magazine operator in the U.S. and owner of the largest premium content digital network for American consumers. Meredith's Local Media Group includes 17 television stations, reaching 11 percent of U.S. households. SOURCE Meredith Corporation.
SOURCE Ad Practitioners LLC
