Gray Television Inc. has received shareholder approval to finalize its $2.825 billion acquisition of Meredith Corp. (NYSE: MDP).

Following the deal, Meredith will move its digital, magazine, MNI, PEOPLE TV and corporate operations out to its shareholders as a separate firm, Meredith Holdings Corp. The new holding company will be acquired by Dotdash, a subsidiary of IAC, for $2.7 billion.

The transactions are expected to close December, 1, 3021 subject to final mutual approval.