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Media General To Buy Meredith In Deal Valued About $2.4 Billion

Inside the Media General and Meredith Deal

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By Gerry Smith, Amy Thomson and Tom Lavell

September 8, 2015 at 10:37 AM UTC

Updated on

September 8, 2015 at 9:13 PM UTC

This article is for subscribers only.

Media General Inc. agreed to buy Meredith Corp. in a cash and stock deal valued at about $2.4 billion, the latest in a series of transactions between local broadcasters looking to gain leverage in negotiations with pay-TV providers.

The new company, led by Meredith’s Chief Executive Officer Steve Lacy, will be called Meredith Media General. It will reach about 30 percent of U.S. homes with a TV, and will be the third-largest owner of network affiliates, the companies said in a joint statement Tuesday. The company will also reach 100 million women with the addition of Meredith’s magazines like Better Homes and Gardens and Shape.