Meredith Corp. signed a definitive agreement to buy...
Meredith Corp. signed a definitive agreement to buy the broadcast assets of TV stations in Phoenix and St. Louis from Gannett and Sander Media. Gannett also completed its acquisition of Belo. The agreement with Meredith stems from a Department of…
Sign up for a free preview to unlock the rest of this article
Timely, relevant coverage of court proceedings and agency rulings involving tariffs, classification, valuation, origin and antidumping and countervailing duties. Each day, Trade Law Daily subscribers receive a daily headline email, in-depth PDF edition and access to all relevant documents via our trade law source document library and website.
Justice consent decree, which required Gannett to divest a St. Louis station to get approval for its Belo acquisition (CD Dec 17 p6). The stations -- KTVK Phoenix, KASW Phoenix, and KMOV St. Louis -- will be sold for $407.5 million, Meredith said in a press release (http://bit.ly/1hzeX3R). “At the closing, Meredith will simultaneously convey KASW-TV to Sagamore Hill of Phoenix, LLC, which, through its affiliates, owns and operates two television stations in two markets,” Gannett said in a separate press release (http://ganne.tt/1c2USgP). The purchase of Belo “nearly doubles Gannett’s broadcast portfolio and creates the largest independent station group of major network affiliates in the top 25 markets,” it said (http://bit.ly/1cNF4zr).