Meredith Loses Rainmaker, Axes 80

Martin Reidy led integrated marketing unit

Meredith Corp. has lost a big rainmaker at the same time that it axed 80 people in the midst of declining magazine ad revenue. Martin Reidy, who led the hot B-to-B unit Meredith Integrated Marketing (recently renamed Meredith Xcelerated Marketing), was hired in 2009 by then-National Media Group president Jack Griffin from Publicis Modem to help turn the company into a full-service marketing services provider.

MXM at one time represented some 20 percent of revenue for the Meredith National Media Group and has counted Chrysler, Kraft and Wells Fargo among its clients. Like

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