In what is purported to be the first case of a major publishing company acquiring an ad agency, Meredith Corporation has purchased O’Grady Meyers, a small L.A.-based interactive shop.
The companies have specific projects in mind for collaboration and plan to keep significant portions of their businesses separate from one another. Meredith’s magazines, such as Better Homes and Gardens, and Ladies Home Journal, will not be involved in the deal, while O’Grady Meyers will reportedly maintain all of its existing clients separate from Meredith.
Meredith wants O’Grady Meyers to join its Integrated Marketing unit in focusing on direct mail and special publications for some its chief advertisers, including Nestle, Met Life, and Pepsi-Cola.
“Joining forces with Meredith Integrated Marketing will allow us to complement and greatly expand the valuable services we offer,” Patrick O’Grady, President, O’Grady Meyers, told the press. “We look forward to bringing our clients new, multi-channel online and offline convergence opportunities and enhanced consumer insights that are now possible due to combining our interactive capabilities with the tremendous assets of Meredith.”
Started in 1993, O’Grady Meyers has built a reputation on its work with consumer goods, technology, and healthcare brands, and excels at utilizing emerging technologies and interactive marketing trends.