TVNewser LostRemote AgencySpy PRNewser FishbowlNY FishbowlDC SocialTimes AllTwitter AllFacebook InsideFacebook InsideSocialGames InsideMobileApps

Gannett Completes Sale of Phoenix Stations to Meredith

meredith logo_304x200Gannett and Sander Media today announced they have completed the sale of Phoenix, AZ, independent station KTVK and CW affiliate KASW to Meredith Corporation.

The total sale price of the sale announced in December including KMOV in St. Louis was $407.5 in cash. The KMOV deal closed in February.

Meredith chairman and CEO Stephen M. Lacy, said in a statement, “These are high performing stations and will add to our already strong cash flow. We will increase our presence in the large and growing Phoenix market, where we also own KPHO-TV, the CBS affiliate.”

According to Meredith both it and SagamoreHill have “voluntarily agreed to divest KASW through a cash sale, swap transaction or combination thereof.”

Meredith announced Wednesday it was buying WGGB in Springfield, MA, from Gormally Broadcasting for $53.8 million.

Mediabistro Course

Mediabistro Job Fair

Mediabistro Job FairLand your next big gig! Join us on January 27 at the Altman Building in New York City for an incredible opportunity to meet with hiring managers from the top New York media companies, network with other professionals and industry leaders, and land your next job. Register now!