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Meredith Closes on KMOV

Meredith has closed on its $177 million acquisition of KMOV St. Louis, with Gannett and Sander Media as the seller. KMOV, a CBS affiliate, had been part of Belo, which was acquired last year by Gannett, which already owns a station in St. Louis.

Under a separate agreement, KTVK and KASW in Phoenix will be sold to Meredith as well. The total deal value is $407.5 million.

Gracia Martore, president and CEO of Gannett, said when the deals were announced in December: “We are very pleased to have reached this agreement with Meredith. Meredith is a highly respected multi-media company which shares our commitment to outstanding local journalism, and we are confident that these stations will be in good hands.” 

Stephen Lacy, Meredith chairman and CEO, called the trio "high performing stations [that] will add to our already strong cash flow.”