Meredith Buys Health Marketing Firm Big Communications; Alerts Investors To $16M After-tax Charge


Magazine publisher Meredith (NYSE: MDP) has acquired health care marketer Big Communications. Like a number of other traditional media companies, Meredith want to ramp up its health care offerings. Ferndale, Mich.-based BC has relationships with companies involved in pharma, biotech and insurance and has handled print, digital and mobile initiatives for B2B and consumer purposes. The company, founded in 1994, will be folded into the Meredith Integrated Marketing unit. Terms were not disclosed.

In the same announcement, Meredith says it will take a $16 million after-tax charge in FYQ4 related to costs of repositioning its book operations and layoffs. Release

60 staffers laid off: Folio has details on the job cuts, reporting that 60 jobs are being slashed and Meredith will not fill 60 open posts. The layoffs cut across editorial, sales, production, digital imaging and other areas. The open positions that will remain unfilled are “companywide,” a rep tells Folio.

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