Meredith Buys Gannett TV Stations for $407.5 Million
Meredith Corporation, publisher of Better Homes & Gardens, Every Day with Rachael Ray and more, is expanding its TV business. The company has purchased Gannett TV stations located in Phoenix and St.Louis, for $407.5 million.
The buy includes KASW in Phoenix and KMOV in St. Louis. Meredith also acquired KTVK in Phoenix, but is selling it in a different deal to SagamoreHill.
“These are high performing stations and will add to our already strong cash flow,” said Meredith’s CEO, Stephen Lacy, in a statement.
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