Meredith to buy 3 Gannett television stations



Estimated read time: 1-2 minutes

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

DES MOINES, Iowa (AP) - Media and marketing company Meredith Corp. says it is buying television stations in Phoenix and St. Louis from Gannett Co. and Sander Media.

Meredith, the publisher of Better Homes and Gardens and other leading women's magazines, also owns 13 television stations in the United States.

The acquisition includes in Phoenix, independent station KTVK, and KASW, a CW affiliate which will be purchased by a third party but Meredith will provide services for its operation. Also included is KMOV, a CBS affiliate in St. Louis.

The cash transaction will cost Meredith $407 million. The stations are part of Gannett's recent acquisition of Belo Corp.

Des Moines-based Meredith says it expects the stations to generate between $105 million and $115 million in revenue in the first full year.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

SIGN UP FOR THE KSL.COM NEWSLETTER

Catch up on the top news and features from KSL.com, sent weekly.
By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Policy.

KSL Weather Forecast