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Why Meredith Stock Was Skyrocketing Higher Today

·2 min read
Why Meredith Stock Was Skyrocketing Higher Today
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Shares of Meredith Corporation (NYSE: MDP) shot through the roof Friday, surging as much as 31.1%. Reports emerged late yesterday that the magazine publisher was in advanced talks to be acquired by IAC/InterActiveCorp (NASDAQ: IAC) in a deal valued at $2.5 billion. Owning Meredith, the publisher of such high-profile magazines as People, Better Homes & Gardens, InStyle, Entertainment Weekly, and Martha Stewart Living, would be a good fit for IAC.