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Meredith Sells Local TV Stations to Gray Television for $2.7 Billion

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hollywoodreporter.com
hollywoodreporter.comhollywoodreporter.com:

Meredith Corp. has reached an agreement to sell its local TV stations, or its Local Media Group, to Gray Television for $2.7 billion.

The company's national media division includes its publishing unit, which produces magazine titles like People, Entertainment Weekly, Better Homes & Gardens, Travel + Leisure and Martha Stewart Living, among many others.

Its local TV business includes 18 TV stations across 13 states, including the CBS affiliates in Atlanta, St. Louis and Phoenix and Fox affiliates in Las Vegas and Portland, Oregon. "We believe the scale made possible by the combination of the Local Media Group with Gray Television represents a great strategic fit, and we are incredibly grateful to our colleagues for their years of dedicated.

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