News Deserts Are Growing, Publishing Executives Say (mediapost.com)

Meredith Corporation announced that its pending acquisitions by Gray Television Inc. and IAC's Dotdash Media Inc. received key regulatory approvals. First, the Federal Communications Commission has approved Gray's acquisition of Meredith Corp., and Meredith will now seek the transaction's approval at a November 30, 2021, special shareholder meeting. Immediately prior to the Gray acquisition, Meredith will spin its digital, magazine, MNI, PEOPLE TV, and corporate operations out to shareholders as a new company, Meredith Holdings Corp., that Dotdash has agreed to acquire. Additionally, Meredith announced the waiting period under the Hart-Scott-Rodino Antitrust Improvement Act of 1976 for Meredith Holdings' acquisition by Dotdash expired on November 12, 2021.

*S&P Global Delivered Very Strong Financial Results in 2021 *4th Quarter Revenue Increased 12% and Full-Year Revenue Increased 11% *Diluted EPS Increased 48% to $2.79 in the 4th Quarter; Increased 29% to $12.51 for the Full Year *Adjusted Diluted EPS Increased 16% to $3.15 in the 4th Quarter; 17% to $13.70 for the Full Year *Recent Growth Investments Resulted in New Product Launches and Expanded Capabilities *Sustainable1 Driving Significant Expansion of ESG Product Offerings *Achieved Considerable Progress on Merger Preparation and Synergy Validation

“We finished the year strong and head into Fiscal 2025 with full confidence in our Research trajectory, GenAI momentum, and profit and performance outlook,” said Matthew Kissner, Interim President and CEO. “We are seeing robust demand to publish and significant output acceleration in Research as well as continued outperformance in Learning. On top of this, we’re seeing significant interest in leveraging our authoritative content to train AI and machine learning models. Finally, we’ve executed on our stated commitments with discipline and speed, enabling us to exceed our earnings guidance and accelerate our cost savings program, setting us up well for continued margin expansion and strong cash generation ahead.” Fiscal Year 2024 was a transition year for Wiley as the Company divested non-core assets, restructured and realigned the organization, and recorded multiple non-cash impairments. Results reflect this activity. GAAP Results (including Held for Sale or Sold Assets): Revenue of $468 million (-11%), Operating income of $69 million (-17%), and EPS of $0.46 (-$0.76).