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The Wall Street Journal: Barry Diller’s IAC may purchase magazine publisher Meredith

IAC/InterActiveCorp. is in advanced talks to acquire magazine publisher Meredith Corp., owner of brands including People and Better Homes & Gardens, according to people familiar with the situation.

The deal, which is expected to be valued at more than $2.5 billion, would vastly expand IAC’s collection of online publications, which include Brides, Serious Eats and Investopedia, the people said. It would also bulk up IAC’s portfolio, which has shrunk recently after the company moved to spin off online dating behemoth Match Group Inc.
MTCH,
+0.73%

 and video-hosting and sharing platform Vimeo Inc.
VMEO,
+0.21%
.

IAC
IAC,
+3.01%
,
led by Chairman Barry Diller, has pulled ahead of another group vying for Meredith
MDP,
+2.14%

that includes Phoenix-based private-equity firm The Najafi Cos. and could strike a deal in the coming days, some of the people said. There is no guarantee there will be a deal, as the talks could still fall apart.

An expanded version of this report appears on WSJ.com.

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