The Vote is Today

Today, the Meredith shareholders will cast their votes.

Meredith shareholders will vote to preserve their rights should the company split its TV and magazine businesses at some point down the road.

Meredith is looking to split the company, which will make them more attractive to potential buyers.

If a TV company wants to buy the group, it is not likely that they want to buy the magazines that come along with it. The same thing for a publisher that might be interested in the magazines, but couldn’t care less about the TV stations.

Meredith has two classes of shareholders: Class B and common shareholders.

Class B shares are mostly held by the Meredith family and come with 10 times as much voting power as normal shares, which anybody can buy.

The vote is on an amendment to the company’s charter that will allow shareholders to maintain this structure of common and high-vote stock if Meredith were to separate the company.

Meredith stock at one point traded at nearly $40 bucks a share and now sits below $15 dollars.

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