Meredith confirms sale of TV stations, magazine sale set to close
The majority of Meredith Corp. shareholders approved the $2.8-billion deal of selling the company’s broadcasting division to Gray Television, with Gray taking over Meredith’s 17 local TV stations, including channels in major markets. The Des Moines-based media company will also complete the sale of its magazine holdings to New York tech conglomerate IAC/Interactive Corp. With […]
Meredith to sell local TV stations to Gray Television
Meredith Corp. is selling its Local Media Group to Gray Television for $2.7 billion, reports the Hollywood Reporter. 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 […]
Meredith Corp starts pay cuts, puts dividends on hold
Meredith Corp. announced Monday that it will be cutting the pays of 60 percent of its staff as a result of declining advertising revenues caused by the COVID-19 pandemic. The pay reductions will be effective May 4 and last through Sept. 4. Forty percent of the employees will see a 15 percent pay cut while […]
