h digitalfootprint web 728x90

Sale of Meredith TV stations approved; magazine division sale set to close this week


Des Moines Register: Meredith Corp. shareholders approved the sale of the Des Moines-based media company’s broadcasting division Tuesday — a transaction that clears the way to complete what the company said will be the sale this week of of its magazine holdings to New York tech conglomerate IAC/Interactive Corp. A majority of shareholders voted in favor of the $2.8 billion deal with Gray Television during a closed meeting, Meredith announced in a news release. Gray will take over Meredith’s 17 local TV stations, including channels in major markets like St. Louis, Kansas City, Missouri, and Atlanta, Gray’s hometown. The sale has a limited impact on local employment, as only five of Meredith’s 870 Des Moines-based workers are in the television division.

Facebook Notice for EU! You need to login to view and post FB Comments!

americanequity web 040123 300x250