MEREDITH ALERT: Shareholder Rights Law Firm Johnson & Weaver, LLP Launches an Investigation into the Proposed Sale of Meredith Corporation; Encourages Investors to Contact the Firm for Additional Information

SAN DIEGO--()--Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Meredith Corporation (NYSE: MDP) breached their fiduciary duties in connection with the proposed sale of the Company to Media General, Inc.

Additional Information:
Meredith operates as a diversified media company that focuses primarily on the home and family marketplace in the United States.

On September 8, 2015, Meredith announced it had signed a definitive merger agreement with Media General. Under the terms of the agreement, Media General will acquire all outstanding shares of Meredith for a combination of cash and stock valued at approximately $3.1 billion, or $51.53 per Meredith share. More specifically, Meredith shareholders will receive $34.57 in cash and 1.5214 shares of the new holding company, formed by Media General, for each share of Meredith they own upon closing. Upon the closing of the transaction, Media General shareholders will own approximately 65 percent and Meredith shareholders will own approximately 35 percent.

The investigation concerns whether Meredith’s board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Meredith’s shares of common stock. Nationally recognized Johnson & Weaver, which focuses its practice on shareholder rights, is investigating whether the proposed deal price represents adequate consideration, especially given that one Wall Street analyst has a $58.00 price target on the stock which is far more than the $51.53 offer price. Meredith’s 52 week high was $57.22.

If you are a shareholder of Meredith and believe the proposed buyout price is too low or you’re interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (jimb@johnsonandweaver.com) at 619-814-4471. If emailing, please include a phone number where you can be reached.

About Johnson & Weaver, LLP:

Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.

Contacts

Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com

Release Summary

MEREDITH ALERT: Shareholder Rights Law Firm Launches an Investigation into the Proposed Sale of Meredith Corporation; Encourages Investors to Contact the Firm for Additional Information

Contacts

Johnson & Weaver, LLP
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com