RR Donnelley Awarded $280 Million Multi-Year Contract by Meredith Corporation
Press release from the issuing company
CHICAGO, April 25 -- R. R. Donnelley & Sons Company has been awarded a multi-year contract to produce both magazines and books for Meredith Corporation, one of the nation's leading media and marketing companies with businesses centered on magazine and book publishing, television broadcasting, integrated marketing and interactive media. Of Meredith's 17 magazine brands, this contract awards RR Donnelley the printing of 9 titles, including extensions for producing market-leading Better Homes and Gardens, Ladies' Home Journal, More and American Baby. The production of a portion of Meredith's 350 book titles is also a part of this agreement, whose term value is expected to exceed $280 million. This contract extends a 20-year relationship, as well as includes the addition of new work.
Steve Lacy, President and Chief Operating Officer, Meredith Corporation, stated, "The strength and diversity of RR Donnelley's product and service offering continue to make them an ideal partner for the Meredith Corporation. As a company that is continually seeking new ways to extend our market reach, customer focus and shareholder value, we are delighted to work with a printer whose strategic direction is so completely aligned with our own. We expect this new agreement to better position us to take even greater advantage of RR Donnelley's portfolio, as we work together to continue to bring new integrated marketing solutions to our customers."
John Paloian, Group President, Publishing & Retail Services, RR Donnelley, added, "Our strong relationship with the Meredith Corporation continues to demonstrate the value of customers and suppliers working closely together across multiple aspects of their business. We both continue to reap additional benefits as our two organizations discover new ways to bring increased efficiencies and more effective products and services to the magazine and book marketplace. We look forward to increasing our interaction with the Meredith Corporation as both of our companies continue to evolve and grow."
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