RTTNews | Jan 6, 2021 06:49AM EST

06:48 Wednesday, January 6, 2021 (RTTNews.com) - Wyndham Destinations (WYND) has acquired the Travel + Leisure brand and all related assets from Meredith (MDP). The $100 million acquisition will be funded with cash on hand of $35 million paid at closing, with trailing payments completed by June 2024.

In early 2021, Wyndham Destinations will change its name to Travel + Leisure Co. The new Travel + Leisure Co. stock will begin trading under the ticker TNL in mid-February 2021. The deal is anticipated to be neutral to earnings for the new Travel + Leisure Co. in year one and accretive in year two.

Travel + Leisure's multi-platform media assets will continue to be operated by Meredith.

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