Here is why Meredith Corporation (MDP) stock popup on Wednesday?

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BMO Stock
BMO Stock

Meredith Corporation (MDP) shares soared 5.96% in after-hours on Wednesday, October 6, 2021, and closed the daily trading at $57.80. Also, in the regular trading session of Wednesday, MDP’s stock gained 0.22%. MDP shares have risen 322.87% over the last 12 months, and they have moved down 2.47% in the past week. Over the past three months, the stock has gained 35.02%, while over the past six months, it has jumped 80.57%.

Let’s have a brief discussion about its recent news and developments.


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MDT acquired by DotDash

On October 6, 2021, IAC signed an agreement according to which IAC’s Dotdash digital publishing unit will acquire the entity that holds Meredith Corporation’s (MDP) National Media Group, which is comprised of its Digital and Magazine businesses, and its corporate operations in an all-cash transaction at a purchase price of $42.18 per share.

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The combined company is expected to be called Dotdash Meredith and it will become one of the largest publishers in America with leading brands across the highest value commercial categories online, including home, health, food, finance, parenting, and beauty. The new company will be led by Dotdash CEO Neil Vogel.

MDP won Ad Council’s 2021 Catalyst Award

On September 30, 2021, Meredith (MDP) Local Media Group received the 2021 Catalyst Award for their outstanding support of Ad Council public service campaigns over the past year.

Upcoming MDP People en Español’s Festival

On September 22, 2021, Meredith Corporation (MDP) announced that its People en Español’s Festival En Casa is back virtually this year to shine a light on industry leaders and celebrities who are making a positive impact in their communities. The free popular entertainment event will be live-streamed on Friday, October 15th from 7 PM until 9 PM EST on PeopleEnEspanol.com and will be available on-demand following.

MDP 2021 REAL SIMPLE HOME

On September 17, 2021, Meredith Corporation’s (MDP) REAL SIMPLE revealed the 2021 REAL SIMPLE HOME, which is a remodelled Victorian in the suburban town of Westfield, New Jersey. REAL SIMPLE editors and collaborators carried out a top-to-bottom renovation, creating a modern, functional space full of inspiring ideas.

Winners of 2021 Beauty Awards

On September 9, 2021, Meredith Corporation’s (MDP) SHAPE announced the 83 top new beauty products in the 2021 SHAPE Beauty Awards, spanning categories of makeup, hair, body, face, and dermatologist picks. The annual Beauty Awards have been an essential resource for wellness-minded women since 2003, who are equally committed to their beauty and workout routines.

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Conclusion

The recent MDP acquisition was the reason behind its surge on Wednesday and it can further go up in the coming days as well.

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