Meredith Corp. (NYSE: MDP) has acquired Selectable Media, an advertising company.
Selectable, headquartered in New York, provides video advertising services. As part of the deal, Selectable CEO Matt Minoff will oversee Meredith digital's ad products and operations, and Selectable COO Marc Rothschild will lead the company’s digital's advertising sales and marketing teams. Terms of the deal, which was announced Jan. 6, were not disclosed.
Publishing company Meredith, headquartered in Des Moines, Iowa, has made other acquisitions in recent years, including Allrecipes.com and Mywedding.com. The group also agreed to buy a television station, CBS-affiliate KMOV-TV in St. Louis, Missouri, for $177 million in March. For more on purchases of broadcasting stations, see Broadcasting Stations Beckon Buyers.
Other media companies have also bulked up advertising services through acquisitions. In December, Yahoo Inc. (Nasdaq: YHOO) closed a deal for video-ad service BrightRoll Inc. for about $640 million. In October, video company Ooyala picked up UK advertising startup Videoplaza Ltd.