Meredith Corporation couldn’t strike a deal with Time Inc., but it had better luck with Bonnier Corporation.

Meredith just announced that it has acquired Parenting and Babytalk magazines — along with their websites — from Bonnier. The magazines will then be folded into Meredith’s Parents and American Baby.

If you’re a Parenting or Babytalk subscriber, get ready for Parents and American Baby to replace them, beginning with September issues. Parenting’s site — parenting.com — will continue to exist, however.

Sadly, as with any merger/folding, people are likely to find themselves out of jobs. We’ll keep you posted about what we hear.

In a week where Condé Nast shuttered parenting magazine Cookie, rival magazine publisher Bonnier Corp. is beefing up its parenting portfolio with the purchase of Conceive magazine.

The formerly independently published magazine — founded by Kim Hahn in 2004 — will join Bonnier’s other magazines in the category, Parenting and Babytalk. Conceive‘s entire staff will be joining the Bonnier team, and the magazine’s Web site, Conceive On-Air radio show and several related books are also part of the deal.

This new addition to the Bonnier family is surprising, especially considering what other companies like Condé are doing. Instead of folding titles, Bonnier has been collecting them, even ones within the same category. This is the company’s fourth acquisition in the past year. In June, the Florida-based publisher bought five enthusiast titles from Hachette Filipacchi, including Popular Photography, Flying, Boating, Sound & Vision and American Photo.

Full release after the jump

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