Barry Diller’s IAC is in talks to buy Des Moines-based magazine publisher Meredith Corp. in a deal valued at more than $2.5 billion.
The deal would expand IAC’s collection of online publications and would boost its portfolio of websites. IAC has gained advantage over another group eyeing to acquire Meredith that includes Phoenix-based private-equity firm The Najafi Cos.
Earlier this year, Meredith agreed to sell its local TV business to Gray Television Inc. Now, the decision to sell off the rest of the company would mark a major highlight.
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