The sale of KTVK and KASW to Meredith Corp. was part of a deal announced last December that also included KMOV St. Louis.
Gannett Co. and Sander Media LLC announced today they have completed the previously announced sale of KTVK (independent) and KASW (CW) in Phoenix (DMA 12) to Meredith Corp., following regulatory approvals.
As part of the sale, Sander Media has conveyed to Meredith substantially all of its assets used in the operation of both KTVK and KASW, which Sander Media acquired upon completion of the Gannett-Belo transaction on Dec. 23, 2013.
In addition, Gannett has conveyed certain other assets that it used to provide services to both KTVK and KASW which Gannett acquired from Belo Corp. upon close of the Gannett-Belo transaction. At the closing, Meredith simultaneously conveyed KASW to SagamoreHill of Phoenix, LLC, which, through its affiliates, owns and operates two television stations in two markets.
This completes the sale of stations to Meredith that was previously announced in December of 2013. The total sale price of the combined stations (KTVK and KASW in Phoenix and KMOV St. Louis) was $407.5 million in cash.