Wyndham Destinations Buys Travel + Leisure From Meredith for $100 Million
Wyndham Destinations Buys Travel + Leisure From Meredith:
Wyndham Destinations is buying Travel + Leisure from Meredith for $100 million in a deal that would "expand Wyndham’s business beyond its core vacation-ownership operations," Dave Sebastian of The Wall Street Journal reported Tuesday. The combined company would encompass Travel + Leisure's flagship magazine alongside its member-based travel services and Wyndham's 230 timeshare resorts. However, Meredith will continue publishing the magazine under a 30-year license, with its staff remaining as Meredith employees. Wyndham Destinations "plans to change its name to Travel + Leisure Co. and trade under the ticker symbol 'TNL' as of mid-February."