TVSpy has confirmed Meredith is laying off 130 people at its local stations companywide.
The company released the following statement:
Today, Meredith announced initiatives to address the ongoing Covid-19 crisis and position our business for continued growth. These include cost-control measures as well as a reallocation of resources to higher-growth areas. As noted on our FY20 Q4 earnings call, while we are seeing slight improvement, advertising remains significantly below our historical norms. The steps we are taking will result in the elimination of approximately 130 roles in our Local Media Group. We thank each and every one of these individuals for their numerous contributions to the company.
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Meredith owns 17 television stations, with seven of them in the nation’s top 25 markets and 13 in top 50 markets.
According to The Laurel, a local newspaper in Hartford, Conn., WFSB laid off 10 people including longtime anchor Dennis House and morning anchor Eric Hall. The paper says the entire art department was also let go.
TVSpy will continue to follow this story as it develops.