Meredith Sells Its 60% Of Viant
Meredith Corp. today sold its 60% equity ownership of Viant Technology Holding to Viant Technology LLC, headed by founders Tim and Chris Vanderhook. Terms were not disclosed.
Meredith acquired equity in Viant Technology Holding as part of its January 2018 acquisition of Time Inc., which had acquired its stake from Viant Technology LLC in February 2016.
“We are pleased to have sold our equity in Viant to Tim and Chris Vanderhook, who have been excellent stewards of the business,” said Meredith Chief Development Officer John Zieser. “We look forward to working with the Viant team on joint business initiatives going forward.”
The sale does not include Meredith’s ownership stake in Xumo JV Holdings, also acquired as part of the Time Inc. transaction.
Since the acquisition, Meredith has sold several former Time Inc. assets viewed as non-core to Meredith’s business strategy at attractive multiples, including Time magazine, Fortune, Sports Illustrated, Money, Time Inc. UK and Viant. Meredith continues to market Xumo and FanSided.