Meredith Corp. (MDP) To Sell Local Media Group to Gray Television (GTN) For $2.7 Billion

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Meredith Corporation To Sell Local Media Group For $2.7 Billion, Focus Exclusively On Leading Portfolio Of National Brands

May 3, 2021 9:00 AM EDT

DES MOINES, Iowa, May 3, 2021 /PRNewswire/ -- Meredith Corporation (NYSE: MDP) today announced that it has agreed to sell its Local Media Group ("LMG") to Gray Television, Inc. (NYSE: GTN) for $2.7 billion in cash and will focus exclusively on its National Media Group ("NMG") portfolio post-close. Under the terms of the transaction, Meredith's National Media Group will be spun out to... More