Meredith CEO Excited by TV Market

By Andrew Gauthier 

MediaPost

The M&A market for TV stations — which was robust before the economic slowdown and then virtually nonexistent — looks to be positioned for a fast recovery, according to Meredith Corp. CEO Stephen Lacy.

“I think those TV assets are going to be hot,” he said at an analyst conference Wednesday.

Lacy said that pre-recession, stations were selling for multiples of about 15 X EBITDA, which was not sustainable for Meredith. Private-equity firms helped drive the costs up. Valuations now should be slightly lower, he indicated. More…

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