A media and internet company based in Manhattan is buying Des Moines-based Meredith Corporation for $2.7 billion and the new company will be called Dotdash Meredith.
Meredith started publishing in Des Moines in 1902 with the Successful Farming magazine. The company owns well-known magazine titles like People and Better Homes and Gardens. Dotdash is part of a company called IAC and it owns Simply Recipes and dating apps like Hinge and Tinder.
The headquarters for Dotdash Meredith will be in New York. Meredith currently employs about 800 people in Des Moines. The Des Moines Register is reporting the CEO of Meredith sent an email to employees saying their jobs “are not changing” and the new company will have a “continued presence” in Des Moines.