Meredith Acquired by Media General in $2.4B Deal, Creates Meredith Media General

In a blockbuster deal, Media General has merged with Meredith Corporation in a $2.4 billion dollar deal that will create a new holding company, Meredith Media General. The new company will have $3 billion in revenue when combined.

The deal comes out of the blue as it was only a little more than a year ago that rumors were that Meredith might acquire the titles of Time Inc. But this deal is really all about broadcast rather than print magazines. The creation of the new company creates the third largest owner of local television stations, with 88 stations in 54 markets.