December 15, 2011

New Media Strategies Founder & CEO Pete Snyder to Step Down From Executive Duties at End of 2011

WASHINGTON, Dec. 15, 2011 /PRNewswire/ -- New Media Strategies (NMS) and Meredith Xcelerated Marketing (MXM) announced today that Founder & Chief Executive Officer Pete Snyder will step down from executive duties at the company at the end of the year.   Effective January 1, 2012, Jack Macleod, Vice President of Sales for New Media Strategies, will serve as interim General Manager of the company.

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Snyder founded New Media Strategies in 1999 and built the company into one of the country's foremost social marketing agencies.  Recently, both The Washington Post and Fox Business lauded New Media Strategies as "the first and the world's largest social media marketing company." Meredith Corporation (NYSE: MDP) acquired NMS in January 2007 as part of its very successful strategy of transforming its marketing service arm – Meredith Xcelerated Marketing – into one of the nation's leading custom digital marketing specialists.

"Twelve years after creating New Media Strategies, the world's first social media marketing agency – and five years after selling the company to Meredith – I've decided it's time to start the next chapter," said Snyder. "I want to thank my amazing team at New Media Strategies for everything they have contributed and accomplished over the years.  It's every entrepreneur's dream to start a company out of his one-bedroom rental apartment and grow it into the largest and most successful player in the industry."

Regarding future plans, Snyder will launch a new business venture that will provide seed and angel capital to entrepreneurs and start-up companies.  Snyder's move will be non-competitive, as he will remain affiliated with New Media Strategies as Founder, and will be a senior advisor to the company and to Meredith. 

Additionally, Virginia Governor Bob McDonnell recently asked Snyder to serve as Chairman of the 2012 Victory Campaign, which encompasses the Presidential, U.S. Senate and 13 Congressional elections in the Commonwealth of Virginia.

"All of us at Meredith want to thank Pete for his dedicated work and valuable contributions over the years," said Meredith Chairman and Chief Executive Officer Steve Lacy.  "We wish him the best in all his future endeavors.  We're fortunate to have a deep bench and a great team in place and New Media Strategies will continue to provide our clients with outstanding marketing solutions."

Snyder added, "I can't say enough good things about Meredith and my experience with the Company, its leadership and its smart and dedicated employees.  Meredith has been innovative and aggressive in the marketplace, and has proven to be a place where entrepreneurial-minded executives and companies can flourish."

A full service idea shop with more than 120 employees, NMS' core competencies include social media marketing, corporate blogger engagement, brand protection, issue advocacy, online intelligence, and organizational training.  NMS specializes in many verticals including entertainment, health and beauty, sports, automotive, consumer packaged goods, retail, travel, technology, and public affairs.

NMS has a record unmatched by any other social media marketing firm.  Over the past 12 years, it has executed more than 2,500 social media marketing campaigns for 85 different industries, and has unparalleled experience giving clients a distinct advantage in the marketplace.  NMS has been heralded as a "pioneer in consumer communications" by the Washington Post. Its influence on the industry has changed the jargon of Web 2.0 according to Wired Magazine.

A leading multi-disciplinary organization of best-in-class services, MXM provides clients with in-depth knowledge, resources and expertise in core marketing areas including loyalty, digital, social, mobile, shopper, healthcare, experiential, database and analytics, mobile, campaign management, social and digital. MXM's heritage lies in its more than 40 years of experience in creating custom programs and customer relationship marketing platforms.  

Over the past five years, MXM has added expanded marketing capabilities in key areas with the acquisition of leading agencies The Hyperfactory (mobile), Genex (digital), New Media Strategies (social media), Directive (database analytics) and BIG Communications (healthcare).  Most recently, MXM announced an investment in leading international marketing agency Iris Worldwide, and the creation of the Meredith-Iris Global Network.  MXM now has more than 700 employees and works with more than 50 brands, including Kraft, Lowe's, Nestle and Honda/Acura.

Meredith Corporation (www.meredith.com) is the leading media and marketing company serving American women.  Meredith features multiple well-known national brands – including Better Homes and Gardens, Parents, Family Circle, Ladies' Home Journal, Fitness, More, EveryDay with Rachael Ray and American Baby – along with local television brands in fast-growing markets. Meredith is the industry leader in creating content in key consumer interest areas such as home, family, health and wellness and self-development.  Meredith uses multiple distribution platforms – including print, television, online, mobile, tablets, and video – to give consumers content they desire and to deliver the messages of its marketing partners.  Additionally, Meredith uses its many assets to create powerful custom marketing solutions for many of the nation's top brands and companies. According to the Advertising Industry Reports (AIR) survey of more than 1,500 agency and marketing professionals, Meredith is the nation's "Highest Rated Media Company." 

SOURCE Meredith Corporation

Art Slusark of Meredith Corporation, +1-515-284-3404, art.slusark@meredith.com


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