Meredith To Purchase WALA-TV In Mobile-Pensacola From Media General

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Meredith CorporationDES MOINES, IowaAug. 20, 2014 /PRNewswire/ — Meredith Corporation (NYSE:MDP; www.meredith.com) today announced a definitive agreement to purchase the broadcast assets of WALA-TV, the Fox affiliate in Mobile (AL)-Pensacola (FL), from Media General, Inc. (NYSE:MEG) for approximately $86 million subject to certain purchase price adjustments.  The transaction will close when Media General’s merger with LIN Media LLC and the sale of WALA to Meredith receive final regulatory approval.

 

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