Meredith Closes on Phoenix Stations

Meredith has closed on its $230 million acquisition of KTVK-KASW Phoenix. Meredith picks up the independent-CW pair from Gannett and Sander Media. The transaction will not have a material effect on Meredith’s fourth quarter or full year fiscal 2014 performance.

Meredith also owns KPHO in Phoenix. At closing, SagamoreHill, run by Louis Wall, simultaneously purchased certain assets of KASW; Meredith will provide services to the station. 

Sander was tapped to own the Phoenix stations following Gannett’s acquisition of Belo.

The closing of the transaction completes Meredith’s previously announced agreement to acquire stations in Phoenix and St. Louis from Gannett and Sander Media. Meredith closed on KMOV St. Louis in February.

Separately, Meredith announced a $53.8 million pact to acquire WGGB in Springfield, Mass.

Michael Malone

Michael Malone is content director at B+C and Multichannel News. He joined B+C in 2005 and has covered network programming, including entertainment, news and sports on broadcast, cable and streaming; and local broadcast television, including writing the "Local News Close-Up" market profiles. He also hosted the podcasts "Busted Pilot" and "Series Business." His journalism has also appeared in The New York Times, The L.A. Times, The Boston Globe and New York magazine.