Lifestyle Media Giant Meredith to Be Acquired by Barry Diller’s DotDash

The $2.7 billion deal is expected to close by yearend.

InterActivCorp, the owner of digital publisher Dotdash, has agreed to acquire Meredith Corp., which owns such iconic media brands as People, Better Homes & Gardens, Allrecipes, Southern Living, InStyle and Real Simple for $2.7 billion. IAC is owned by billionaire Barry Diller. IAC’s Dotdash unit will acquire the holding entity of Meredith’s National Media Group, which comprises its digital and magazine businesses, and its corporate operations. The transaction combines Dotdash’s digital publishing model with Meredith’s brand portfolio, audience and scale. The combined company, to be called Dotdash Meredith, will be led by Dotdash CEO Neil Vogel. The deal is expected to close by the end of the year.