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As magazine publishers the world over struggle to redefine their medium as advertisers migrate to digital media, Meredith Corp. has moved forward in a decided way: by purchasing two interactive advertising agencies.
Meredith has acquired Los Angeles-based Genex, a top 50 interactive agency with clients such as Honda, Toyota, Citigroup and KB Home, along with New Media Strategies, a firm specializing in Web 2.0, writes MediaPost.
The article points out that while publishers such as Time Warner and Conde Nast sometimes offer advertising or marketing services to support their advertisers, it is unusual for them to own their own agencies.
The addition of Genex and New Media Strategies will help Meredith deepen its ability to help clients “build their brands with a wide variety of creative and effective marketing solutions,” Meredith Publishing Group president Jack Griffin is quoted as saying.
The company is now able to offer advertisers interactive strategies, web site development, word-of-mouth and Web 2.0 marketing programs, online media, and experiential events.
Meredith acquired interactive agency O’Grady Meyers - which specializes in online CRM - in April 2006.
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