Meredith Corp. clears hurdles in pending sales to Gray Television, IAC

40 views 12:12 pm 0 Comments December 13, 2021

Meredith Corp. has taken key steps on the path to selling off its TV stations and making the rest of the corporation part of a New York-based media conglomerate.

The company, headquartered in Des Moines since its founding in 1902, received clearance from the Federal Communications Commission on Friday for the $2.83 billion sale of its local broadcasting division to Gray Television. 

The same day, a waiting period required under an antitrust law expired for the separate deal under which digital media company IAC/Interactive Corp will buy Meredith’s magazine division for $2.7 billion and combine it with IAC subsidiary DotDash, a digital publisher, creating a new company, Dotdash Meredith, under DotDash CEO Neil Vogel.

Meredith said in a news release Monday that it expects to close both agreements by Dec. 1. Unlike the Dotdash deal, the sale to Gray requires approval from Meredith’s shareholders Nov. 30.

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