Viola! WALA now a Meredith property
The deal involves Fox affiliate WALA-TV.
The buyer and now owner is multimedia company Meredith Corporation. Media General is cited as the seller.
Meredith says the acquisition will have no immediate financial results, but will be accretive by the second half of 2015.
The company stated, “Meredith now owns or operates 17 television stations that reach over 10 percent of U.S. television households. Seven of Meredith’s stations are located in Top 25 markets, and 14 are in Top 60 markets. Meredith operates duopolies in the Atlanta, Phoenix, Portland (OR), Kansas City and Springfield (MA) markets. Meredith’s stations produce approximately 650 hours of local news and entertainment content each week, and operate leading local digital destinations.”