Meredith Corporation has completed its acquisition of FamilyFun from Disney Publishing Worldwide. The acquisition includes the highly popular magazine – with an audience of 6 million and rate base of 2.1 million – and its related assets, including its special interest publications, as well as the Toy Hopper and other digital magazine applications.
"We are delighted to bring the FamilyFun brand to market as part of our expanding media portfolio," says Meredith National Media Group President Tom Harty. "This acquisition significantly enhances our leadership and reach among women in both the parenthood and food spaces."
FamilyFun targets moms with a special focus on family activities such as cooking, crafts, celebrations and travel. FamilyFun will report to Carey Witmer, President of the Meredith Parents Network. The March 2012 issue of FamilyFun will be the first issue published by Meredith.
Meredith is already a leader in the parenthood space with brands such as Parents and American Baby. The addition of FamilyFun increases Meredith's share of parenthood category magazine advertising revenues to nearly 60 percent, according to Publishers Information Bureau data. It also adds another attractive demographic of young female consumers to Meredith's database.
Financial terms of the acquisition were not disclosed, and it will not have a material effect on Meredith's 2012 financial performance.
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