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Meredith sells Money brand to Ad Practitioners

Meredith Corp. closed the sale of the Money brand, including the website, to Ad Practitioners LLC, a portfolio of digital brands.

The companies did not disclose the terms of the transaction.

Meredith previously acquired the Money brand as part of its January 2018 acquisition of Time Inc. though it soon decided to sell its noncore properties.

Assets sold to date include the Time, Fortune and Sports Illustrated brands, in addition to some international holdings.

Ad Practitioners was represented by Pietrantoni Mendez & Alvarez LLC and The Jordan Edmiston Group. Meredith was represented by Cooley and Citi.

J.P. Morgan provided financing.