This Slide: #52 of 100 |
Slide #52. Meredith Corporation — KMOV-TV
Acquirer:
Meredith Corporation (MDP)
Acquiree:
KMOV-TV
Details:
Gannett Co., Inc. (NYSE: GCI) and Sander Media LLC announced today that KMOV-TV in St. Louis, MO, will be sold to Meredith Corporation (NYSE: MDP). As part of the sale, Sander Media will convey to Meredith substantially all of the assets used in the operation of KMOV-TV which Sander Media will acquire upon close of the Gannett-Belo transaction. In addition, Gannett will convey certain other assets that are needed to provide services to KMOV-TV, which Gannett will acquire from Belo upon close of the Gannett-Belo transaction. The sale to Meredith, upon government approval, will satisfy Gannett's and Sander Media's obligations under the previously announced proposed consent decree with the U.S. Department of Justice in connection with Gannett's acquisition of Belo.
Meredith is a media company. Co. uses multiple media platforms including print, digital, video, audio, and broadcast television to provide consumers with content and to deliver the messages of its advertising and marketing partners. Co. operates two segments: national media, which includes national consumer media brands delivered across print magazines, digital media, brand licensing activities, performance marketing, database-related activities, affinity marketing, business-to-business marketing products and services, and other related operations; and local media, which consists of various television stations located across the U.S. focused on markets with related digital media assets.
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