Print Buyers Relieved By Meredith's Acquisition of G+J Mags »

Meredith Corporation's plan to buy Gruner + Jahr's Parents, Child, Fitness, and Family Circle magazines for $350 million is a win-win for both, media buyers say, as the former will grow its portfolio of women's lifestyle publications and the latter closes a messy chapter in its bid for global expansion. In a conference call with Meredith executives, the company said it expects the sale to close in early June. Furthermore, Meredith expects the addition of the G+J titles to generate pre-tax earnings in the low-to-mid $30 million range. The sale will give Meredith publications a reach of more than 135 million adult American women.