Sander Media has sold Phoenix TV stations KTVK...
Sander Media has sold Phoenix TV stations KTVK and KASW to Meredith Corp. for $407.5 million, Gannett said in a news release Thursday (http://bit.ly/UiN6i7). Sander is affiliated with Gannett, and operates some stations through sharing arrangements with the larger company.…
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
Both stations were conveyed to Gannett and then to Sander as part of Gannett/Belo (CD Dec 17 p6), said Gannett. The deal to subsequently sell them to Meredith arose out of a Department of Justice consent decree, which required Gannett to divest KMOV St. Louis to get approval for its Belo acquisition. At the close of the deal, Meredith simultaneously conveyed KASW to SagamoreHill of Phoenix, which, through its affiliates, owns and operates two TV stations in two markets, said Gannett.