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.
Broadcasting & Cable Newsletter
The smarter way to stay on top of broadcasting and cable industry. Sign up below.
Michael Malone, senior content producer at B+C/Multichannel News, covers network programming, including entertainment, news and sports on broadcast, cable and streaming; and local broadcast television. He hosts the podcasts Busted Pilot, about what’s new in television, and Series Business, a chat with the creator of a new program, and writes the column “The Watchman.” He joined B+C in 2005. His journalism has also appeared in The New York Times, The Philadelphia Inquirer, Playboy and New York magazine.