Meredith Corp. sells Travel + Leisure to Wyndham for $100 million

Travel + Leisure has 13 letters. But the title equals nine figures.

Des Moines-based mostly Meredith Corp. announced Wednesday that it is marketing the flagship vacation magazine to the timeshare huge Wyndham Locations for $100 million. But the customer isn’t concerned with the journal so a lot as the title on its cover.

As a consequence of the sale, Wyndham Places will rename itself Vacation + Leisure Co. subsequent thirty day period. The firm will lease the real magazine back to Meredith as section of a 30-12 months-arrangement, letting the publisher to keep on to generate and offer the publication.

In addition to the $100 million money buy, Wyndham Destinations agreed to obtain $30 million worth of adverts in Meredith publications above the up coming 5 yrs, Meredith CEO Tom Harty mentioned Wednesday throughout the Citi 2021 World wide TMT West Virtual Meeting.