Meredith Corporation announced that early termination of the waiting period has been granted under the Hart-Scott-Rodino Antitrust Improvement Act of 1976 applicable to its acquisition of Time Inc. As a result, Meredith plans to complete the transaction – first announced on November 26, 2017 – within the next 30 days, subject to satisfaction of the other terms and conditions of the tender offer. Meredith also announced that it intends to offer, subject to market and other customary conditions, up to $1.4 billion in aggregate principal of new senior unsecured 8-year notes (the "Notes"). Meredith intends to use the net proceeds of the proposed offering to fund a portion of its proposed acquisition of Time Inc.; to repay existing Meredith and Time Inc. indebtedness and credit facilities; and pay other fees and expenses related to Meredith's acquisition of Time Inc. and the related refinancing. Click Read More below for additional information.
Publishing sales at IDW Media Holdings rose 27.6% in the quarter ended April 30, 2021 over the comparable period in 2020. Sales in the group, which includes the graphic novel imprints IDW and Top Shelf, increased to $6.0 million in the quarter from $4.7 million in the second quarter of fiscal 2020.
The company said the jump in sales was led by the revival of the direct market channel, which had largely shut last spring with the outbreak of the pandemic. Direct-to-consumer sales were also up in the quarter, but digital sale fell. Among the titles and series that sold well in the period were Locke & Key/The Sandman Universe crossover, Sonic the Hedgehog, X-Men, and TMNT.
more at source: https://www.publishersweekly.com/pw/by-topic/industry-news/financial-reporting/article/86717-q2-publishing-sales-rose-27-6-at-idw.html