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BACK TO THE FUTURE: Meredith Corp. completed its acquisition of Every Day With Rachael Ray on Monday from Reader’s Digest Association and will publish its first issue of the magazine in February. The deal was estimated to be for between $5 million and $10 million, according to insiders.
And Meredith didn’t take long to make changes at the title. Christine Guilfoyle, who was the magazine’s launch publisher until 2007, will switch over from More to become publisher of Everyday, succeeding Paul Jowdy, who only joined the magazine in May from Details. Meredith clearly is hoping Guilfoyle can bring the touch that made Everyday a successful launch because it sure needs it: Through the November issue, ad paging was down 21 percent to 522, according to Media Industry Newsletter. Guilfoyle also has less to work with: Only last week when it was still owned by RDA, the title revealed it would count the November issue as two issues and offered to credit unsatisfied readers.
Linda Fears, editorial director, Meredith Food Content and editor in chief of Family Circle, will oversee all editorial content for Everyday. Meredith is searching for a new editor in chief to succeed Liz Vaccariello, who is staying with RDA.