RTTNews | Sep 24, 2021 10:03AM EDT

10:02 Friday, September 24, 2021 (RTTNews.com) - Meredith Corp. (MDP) shares are rising more than 29 percent on Friday morning trade on a report that InterActive Corp is in active talks to buy the publisher of People magazine. The Wall Street Journal reported Wednesday that the deal will be valued more than $2.5 billion.

It is expected that the sale of magazine business would help diversified media and marketing company, Meredith. Recently in May Meredith has sold its Gray television Inc. or GTN operations for $2.7 billion in cash.

Currently, shares are at $58.26, up 29.77 percent from the previous close of $44.89 on a volume of 1,074,525. For the 52-week period, the shares have traded in a range of $10.75-$58.76 on average volume of 221,956.

Read the original article on RTTNews ( https://www.rttnews.com/3228139/meredith-gains-29-on-report-of-talks-with-interactive-for-sale-of-magazines-business.aspx)

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