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

Journey + Leisure has 13 letters. But the identify equals 9 figures.

Des Moines-based Meredith Corp. introduced Wednesday that it is providing the flagship travel magazine to the timeshare giant Wyndham Destinations for $100 million. But the buyer is not involved with the journal so a lot as the title on its go over.

As a result of the sale, Wyndham Locations will rename by itself Vacation + Leisure Co. future month. The corporation will lease the real magazine back to Meredith as part of a 30-calendar year-arrangement, making it possible for the publisher to carry on to deliver and offer the publication.

In addition to the $100 million cash order, Wyndham Locations agreed to get $30 million really worth of ads in Meredith publications above the subsequent 5 yrs, Meredith CEO Tom Harty reported Wednesday through the Citi 2021 Worldwide TMT West Virtual Conference.