EXCLUSIVE: Meredith will explore a sale of its U.S. broadcast stations, which would leave the company with just its digital and print media business
- Meredith Corp, best known for its lifestyle magazines such as “Better Homes and Gardens”, is preparing to explore a sale of its portfolio of local U.S. broadcast stations as it looks to streamline its business, people familiar with the matter said.
The sources, who asked not to be named because the matter is confidential, cautioned that no deal is certain. Since the acquisition, Meredith has moved to simplify its business and focus on its most profitable media properties. It has already sold off its Time and Fortune magazines, and has also been trying to sell Sports Illustrated.
It a deal is completed, it would be the latest in a flurry of consolidation that has hit local broadcasting in recent years.
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