Proudly announcing HH Global’s full suite of ESG targets

Revenues grew to $3.0 billion, up 5 percent. Earnings from continuing operations were $307 million, compared to a loss of $209 million. Adjusted EBITDA was $683 million, compared to $548 million. Key accomplishments included: *Digital advertising revenues surpassing magazine for the first time in Meredith's history. Digital advertising grew 31 percent. Additionally, Meredith's licensing and digital and other consumer driven revenues grew 27 percent and 25 percent, respectively. *$254 million debt reduction, enabled by record Cash Flow from Operations and Free Cash Flow. Debt reduction was enabled by total company revenue performance along with proactive actions to enhance Meredith's financial flexibility. *Agreeing to sell Meredith's Local Media Group for $2.825 billion, representing a 10x valuation. The transaction, which also includes spinning Meredith's National Media Group, comprising digital and magazine, out to shareholders, is expected to advance the company's financial priorities including reducing net debt, improving financial flexibility, optimizing capital allocation to high-potential opportunities, and providing returns to shareholders.

As more than 130,000 pop culture enthusiasts and comics fans flooded downtown San Diego for Comic-Con International, the news was all about lines—literal and literary. At the annual pop culture show, held July 19-23 at the San Diego Convention Center, the lines—the queues—for exclusive releases, signings, screenings and offsite attractions seemed even more immense than usual. The publishing news involved lines as well—new book lines, imprints, and releases. Comic-Con continues to present a growing awareness of the importance of graphic novels in an evolving comics marketplace. Nevertheless, Diamond Comics Distributors announced at its retailer breakfast that graphic novel and comics periodical sales were flat or worse for the year thus far. Graphic Novel sales are down 13% and periodical sales are down 4%, so far, in 2017. No one has been able to pinpoint a single reason for the slide, although various theories—from a lack of hot titles to the end of the New York Times Bestseller list for Graphic Novels—have been floated. Click Read More below for more of the story.

Nearly 700 dockworkers at the twin ports of Los Angeles and Long Beach have contracted COVID-19 and hundreds more are taking virus-related leaves, raising fears of a severe slowdown in the region’s multibillion-dollar logistics economy. A growing longshore worker infection rate, which parallels the surge of the virus across California, is exacerbating a massive snarl at the ports due to a pandemic-induced surge in imports. Port executives, union leaders and elected officials are mounting an urgent campaign to initiate dockworker vaccinations, fearing that a labor shortage could force terminal shutdowns. “We’ve got more cargo than we do skilled labor,” said Eugene Seroka, executive director of the Los Angeles port. “We are told 1,800 workers are not going on the job due to COVID right now. That can [include] those who are isolating through contact tracing or awaiting test results. Or maybe [those who] fear ... going on the job when a lot of people are sick.” more at source: https://www.latimes.com/business/story/2021-01-20/covid-surge-hits-la-ports-increasing-need-for-vaccines