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Slide #25. Meredith Corporation — KMOV-TV
Meredith Corporation (NYSE:MDP)
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. is engaged in providing consumers with content and delivering the messages of its advertising and marketing partners. Co. operates two business segments: national media and local media. Co.'s national media segment includes national consumer media brands delivered via multiple media platforms including print magazines, digital and mobile media, brand licensing activities, database-related activities, affinity marketing, and business-to-business marketing products and services. Co.'s local media segment consists of television stations located across the United States in markets with related digital and mobile media assets.
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