[coolman302003]

(broadcastingcable.com) [...] "Consolidation has continued in local TV with the latest lightning bolt coming this morning with word that Media General and Meredith plan to merge in a $2.4 billion deal that creates the third-largest U.S. station group.

The combined company, to be known as Meredith Media General, will have 88 stations in 54 markets reaching 30% of the country. It also includes Meredith's female-skewing publishing portfolio, headed by magazines such as Better Homes and Gardens and Shape."

Full Article (Broadcasting & Cable)

Press Release

 

[coolman302003]

Meredith and Media General Execs Tout Digital Upside of Merger
Cost savings, market breadth, election spending seen as key benefits for combined entity

(broadcastingcable.com) [...] "On the revenue side, especially in the digital space, I believe we have upside opportunity when you look at putting the major brands Meredith has into the very big digital distribution system that Media General has built," said Meredith CEO Steve Lacy, who will become the combined company's CEO."

Full Article (Broadcasting & Cable)

 

[coolman302003]

Merger to Give Media General Library of Content, Meredith Better Retrans Deals

With 88 stations initially, the new Meredith Media General will have a big seat at negotiation table

(broadcastingcable.com) [...] "The combination of Meredith's digital and publishing capabilities with Media General's reach makes their $2.4 billion merger, announced Tuesday, a "blockbuster" deal, according Media Venture Partners managing director Elliot Evers.

The merger will make the company, called Meredith Media General, the third-largest U.S. station group, with 88 stations initially in 54 markets reaching 30% of the country. That size is key especially for retrans deals and other negotiations.

"You get a bigger seat at the table with syndicators when you got 88 stations," Evers said. "If you have 88 stations, they have to listen."

Full Article (Broadcasting & Cable)