Costco Wholesale Corporation Reports First Quarter Fiscal Year 2024 Operating Results

Hearst announced it has agreed to acquire QGenda, LLC from investment firms Francisco Partners and ICONIQ Growth. QGenda is a leading provider of healthcare workforce management solutions. More than 4,500 organizations, including leading physician groups, hospitals, academic medical centers and health systems use QGenda to advance workforce scheduling, optimize capacity and improve access to care. The announcement was made by Steven R. Swartz, president and CEO of Hearst; Gregory Dorn, M.D., president of Hearst Health; and Greg Benoit, CEO of QGenda, who will continue to lead the company. Terms were not disclosed. Pending regulatory approval, QGenda will become part of Hearst Health, the healthcare division within Hearst. Hearst Health is currently comprised of market-leading companies FDB, Homecare Homebase, MCG, MHK and Zynx Health. The transaction is expected to close later this year.

Meredith Corporation's Southern Living reports that its December issue ad revenue is up 51% from last year, its monthly year-to-date audience across digital, print and online has averaged 25.5 million, up 2% from 2019 (AAM, Sept. 2020) and its website experienced its highest trafficked November in its history with nearly 19 million visits, up 23% year over year. The December issue, on newsstands now, marks the 25th year of the brand's popular annual holiday white cake cover and feature story. Continuing to advance the brand's momentum, Southern Living will introduce enhanced paper stock, along with a refreshed design, beginning with the January/February 2021 issue. A new front-of-book section called "In Season" will debut to reflect readers' passionate interest in seasonal moments, experiences and celebrations, and a range of new columns will roll out in various issues throughout the year covering topics ranging from home and cooking to travel and beauty. Doug Olson, President of Meredith Magazines, said, "Southern Living's success underscores the brand's resonance with people across the South and beyond. The brand's rich heritage coupled with its modern take on the Southern lifestyle continues to appeal to marketers seeking the right environment to reach engaged consumers across the country. With our investment in improved paper, we're excited to provide an even better reader experience."

The Arena Group, a digital publishing company formerly called Maven, plans to acquire AMG/Parade, the parent company to the storied American magazine Parade, in a $16 million cash and stock deal. Why it matters: AMG/Parade will anchor The Arena Group's new push into lifestyle content and will boost its sports vertical, per Ross Levinsohn, CEO of The Arena Group. AMG (Athlon Media Group) includes a professional sports magazine arm called Athlon Sports and Parade Media Group, which includes Parade Magazine as well as the cooking outlet Relish and the wellness outlet Spry Living.