Meredith Corp. (NYSE: MDP) has closed a deal for KMOV-TV, a CBS-affiliated television station, for $177 million.
Des Moines, Iowa-based Meredith announced it would buy the St. Louis, Mo., station from Gannet Co. Inc. (NYSE: GCI) and Sander Media LLC in December. The deal closed on Feb. 28. The media giant is also in the midst of buying two television stations in Phoenix in a deal it expects will close by the end of June.
Other recent TV station deals include E.W. Scripps Co.'s (NYSE: SSP) deal for two television stationsfor $110 million in February, and Gannet Co. Inc.'s (NYSE: GCI) purchase of Belo Corp. (NSE: BLC) announced in June.
For more, see "Broadcasting Stations Beckon Buyers."