Meredith Corp. Loses $163 Million In 3 Months; Is Ready To Buy You
Despite basically hemorrhaging money like every other media company these days— posting a $163 million loss for the quarter which is, oh, $188 million worse than they did last quarter, not really cutting expenses at all over the quarter, Meredith Corp. is apparently ready for “attractive investment opportunities.”
The company, which owes $380 million to various creditors, paid down its debt by 22 percent. Then it entered into a $75 million private placement of debt in order to have cash on hand in case of the aforementioned “attractive investment opportunities.”
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