Highlights: On track to meet full year expectations. Total revenues were flat year on year with declines in US Higher Education Courseware offset by the rest of the company growing in aggregate. 2018 adjusted operating profit guidance remains unchanged, reiterating underlying profit growth. Online Program Management (OPM) saw good growth in revenue with global course registrations up 13%. Connections Academy, our K12 virtual schools business, saw good growth in revenue and a new partner school was approved for the 2019/20 school year. In English, Pearson Test of English Academic (PTE Academic) grew test volume by 34%. Professional Certification revenues grew well. Click read more below for additional detail.
Meredith Corporation (NYSE: MDP; Meredith.com)—the leading media and marketing company, reaching nearly 115 million American women every month and nearly 90 percent of U.S. millennial women—announced today that it will partner with New York Times best-selling author, restaurateur, chef, television host and producer Ayesha Curry on a new lifestyle magazine. Known for her growing food empire, Curry will infuse her unique perspective on food, family and home into every issue of this new extension of her lifestyle brand.
The premier issue will debut on newsstands nationwide in May 2020 with a cover price of $9.99 and an initial newsstand print run of 400,000.
“I’m overjoyed to have the opportunity to share my lifestyle philosophy about the subjects I deeply care about—family, friendship, food, community and home—with a new audience and in a new format,” said Curry. “I, like so many of us, grew up flipping through the pages of the Meredith Corporation’s iconic magazines. To now have a magazine of my own feels like a dream come true. As a woman of color, it’s important to me that media reflects real, relatable women, and I’m excited to create an outlet for young men and women that celebrates diversity and inclusivity.”
The magazine will feature bold photography and a heavy paper stock, as well as a limited amount of advertising opportunities for premium clients to reach a high-quality audience.
“Ayesha’s fresh and influential voice has an impressive connection to 9 million passionate fans and followers,” said Doug Olson, President of Meredith Magazines. “We’re excited to work with her to expand her voice to magazine media and inform her already strong base on a wide range of lifestyle issues, including food, wellness, family and community.”
Meredith and Curry plan to announce the new magazine’s title in the next few months.