In his new role, Harty, 55, will continue to lead Meredith’s National and Local Media Groups, and direct the integration of the Time Inc. acquisition. He will add responsibility for Meredith’s finance and legal functions. Current CEO Steve Lacy will become executive chairman.
Meredith Corp. is considering splitting its broadcast and publishing units, perhaps uniting one with a strategic partner, according to CEO Stephen Lacy. The idea is one of several possibilities the company is considering after its plan to merge with Media General fell through, Lacy said. The company is also contemplating acquisitions to add more media properties and advertising technology, he said, without providing details.
Meredith, after being rebuffed in its bid to merge with Media General, is actively on the prowl for companies to buy. CEO Steve Lacy says he “presented five acquisitions to the board last week.”
CEO Steve Lacy made no bones about having taken a good, hard look at the four-station McGraw-Hill TV group. But the final multiple was beyond the range that was good for shareholders, he said.
