Meredith Closes on Phoenix Stations - Broadcasting & Cable

Meredith Closes on Phoenix Stations

Makes official the $230 million transaction with Gannett and Sander Media
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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.

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