Justice Settles Antitrust Case Against 6 TV Groups

The Justice Department has settled with six TV station groups over what DOJ said was the “unlawful sharing of competitively sensitive” information on advertising that disrupted “the normal competitive process of spot advertising in markets across the United States.” The six: Sinclair Broadcast Group, Raycom Media, Tribune Media, Meredith Corp., Griffin Communications and Dreamcatcher Broadcasting.

Meredith Interested In Sinclair Spinoffs

Meredith Corp. is looking to buy some Sinclair Broadcast Group TV stations as that conglomerate finalizes a merger with Tribune Media. Steve Lacy, executive chairman of the Meredith board, told an audience at a media conference Monday that he would ask the company’s board of directors later in the day for permission to bid on certain Sinclair stations it will divest to get FCC approval of the merger.

Meredith Taps Brown For News-Marketing VP

The new Meredith Local Media Group executive, Gary Brown, has  more than two decades of experience as a broadcast and digital executive, including overseeing station news operations.

QUARTERLY REPORT

Political Scarcity Drops Meredith TV Rev 7%

However, its nonpolitical ad revenue grew 13% and retrans money also increased from a year ago.

 

Koch Bros. Back Meredith In Talks For Time

Charles and David Koch, the billionaire U.S. industrialist brothers, are backing publisher and broadcaster Meredith Corp.’s revived bid to purchase Time Inc., according to a person familiar with the matter. The Kochs have tentatively agreed to support Meredith’s offer with an equity injection of more than $500 million, the person said, confirming an earlier report. The person asked not to be identified because the matter is private.

QUARTERLY REPORT

Meredith Station Rev. Finishes Quarter Flat

When political is excluded, revenue was up 4%. Digital ad revenue climbed 14%.

QUARTERLY REPORT

Meredith’s Station Revenue Adds 8%

The increase to $152 million is boosted by non-political advertising and retrans.

DMAS 12 & 21

NewsON Expands With 3 Meredith Stations

With the inclusion of Meredith’s KPHO and KTVK in Phoenix and KMOV in St. Louis, the national service providing local news via app has grown to 141 stations in 99 markets covering 48 of the top 50 markets and 80% of the U.S. population. Meredith says more of its stations could come on board in the coming months.

15. MEREDITH CORP.

15. MEREDITH CORP., Des Moines, Iowa 2015 Spot Revenue: $403.4 million  Stations: 28 in 12 markets  Coverage: 10.7%  Ownership: Meredith Corp. (NYSE: MDP)  Key Executives: Stephen M. Lacy, chairman-CEO; Paul Karpowicz, president, Meredith Local Media Group. What’s Up: It’s been an eventful 12 months for Meredith. Last September it was announced that Media General would buy Meredith for $2.4 billion. […]

Meredith Adds Matrix Platform To Boost Sales Visibility

Matrix Solutions, a provider of CRM and sales intelligence, announced today that Meredith Corp. has implemented its CRM & Sales Intelligence Platform. Matrix’s cloud-based solution will offer sales visibility and management functionality to Meredith Corporation’s Local Media Group’s entire sales organization. Sales data and analytics will be accessible to users across Meredith’s 17 TV stations. […]

DMA 11

Layoffs Underway At KTVK Phoenix

It was expected to happen the minute Meredith merged KPHO and KTVK together in Phoenix. Sources report that firings are happening  now at independent KTVK.

DMA 9

WGCL Atlanta Embraces Change In A Big Way

Meredith Corp., which owns the Atlanta CBS affiliate, has found nothing remotely close to stability in its efforts over the past 16 years to dig the station out of the ratings basement. But new GM Mark Pimentel and News Director Larry Perret have revamped the station in a way that nobody in local TV news has seen before in such a short time. Today, the station introduces an almost entirely new anchor lineup. In recent months, it has brought in a new chief meteorologist, revived its sports department, revamped its digital group, hired new producers and introduced a raft of new reporters. Virtually the only department that went relatively unscathed was its camera crew.

Meredith Announces Quarterly Dividend

The Meredith Corp. board of directors on Wednesday declared a regular quarterly dividend of $0.4575 per share, or $1.83 on an annual basis. The dividend will be payable on June 15  to shareholders of record on May 29.

Watchup App Adds Scripps, Meredith, More

With the new station groups, 80% of U.S. homes can watch streaming local news anytime, anyplace. The announcement follows a similar deal with Tribune Media announced last month, which gave Watchup access to video content from 30 of Tribune’s broadcast stations.

Meredith Names Martin Chief Strategy Officer

Former WE tv President Kim Martin will place a strong emphasis on expanding Meredith’s millennial reach across the company’s multiple media platforms.

QUARTERLY REPORT

Meredith TV Stations Fiscal 2Q Rev Up 50%

The company attributes the growth to contributions from recent acquisitions (KMOV St. Louis and KTVK Phoenix), record political advertising and a 22% jump in core (non-political) revenue boosted by strong digital and retrans performance.

Meredith Corp. Site Goes Responsive

Meredith Corp. launched a responsive and streamlined version of its corporate website on Friday, featuring its widened media and marketing portfolio. The new site, which was designed with Domani Studios, features a new live feed as well.

Meredith Corp. Buys Selectable Media

Meredith says the purchase will enhance its digital native ad solutions and drive better engagement. Selectable’s current client list includes Merck, Capital One and GEICO, and the company offers video solutions as well.

DMA 59

Meredith Completes WALA Mobile Purchase

The $86 million buy of the Fox affiliate from Media General was part of a divestiture deal involved in obtaining federal regulatory approval of Media General’s merger with LIN Media.

EARNINGS CALL

FCC Spectrum Valuations Intrigue Meredith

But, says Paul Karpowicz, head of the company’s Local Media Group, “we haven’t made a decision on participating in the auction.”

QUARTERLY REPORT

Meredith TV Station Fiscal 1Q Rev Up 39%

The company attributes the growth to contributions from recent acquisitions (KMOV St. Louis and KTVK Phoenix), “strong” digital sales and the surge in political advertising. But core (non-political) spot revenue on a same-station basis dropped 3%.

DMA 11

Nexstar Buying KASW Phoenix For $68M

The deal for the CW affiliate is a result of Meredith agreeing to spin off the station after buying it along with KTVK from Gannett in June.

AIR CHECK BY DIANA MARSZALEK

McCreery Wants News, Marketing In Sync

Formerly a Meredith station news director and GM, Patrick McCreery now is overseeing the expanding company’s broadcast news and marketing in an unusual paring. “I think those departments need to be in lock step. It’s critical. If your marketing department is not properly marketing your news product, and 10 hours of your product is news, you’ve got a problem.”

Rentrak Adds Four More Meredith Stations

The group’s outlets in Atlanta, Hartford and Nashville are the latest to subscribe to the rating service.

QUARTERLY REPORT

Meredith Local Media Fiscal 4Q Rev Up 20%

Record digital/mobile advertising revenues and higher retransmission-related money drive the quarter’s revenue to $111 million. For the full fiscal year the Local Media Group’s revenue rose 7% to a record $403 million.

DMA 12

Gannett-Sander Complete Phoenix Sale

The sale of KTVK and KASW to Meredith Corp. was part of a deal announced last December that also included KMOV St. Louis.

DMA 114 (SPRINGFIELD-HOLYOKE, MA)

Meredith Corp. Buying WGGB For $53.8M

Meredith Corp. has agreed to purchase the Springfield, Mass., ABC affiliate (which also airs Fox programming on a subchannel) from Gormally Broadcasting for $53.8 million.

DMA 21

Meredith Completes KMOV St. Louis Purchase

The $177 million purchase of the CBS affiliate from Gannett and Sander Media closes following the receipt of regulatory approvals.

EARNINGS CALL

Meredith Bullish On Buying Stations

CEO Stephen Lacy tells analysts that it intends to “continue to grow its television footprint” and would not be put off by a negative Supreme Court decision in the Aereo case.

QUARTERLY REPORT

Meredith Local Media Revenue Down 6.4%

The drop is due to expected lower political ad dollars and was almost offset by strong non-political ad performance and higher retrans revenue.

DMAS 12 & 21

Meredith Buying Three Stations From Gannett

For $407.5 million, Meredith is getting KMOV St. Louis and KTVK-KASW Phoenix that Gannett is acquiring in its purchase of Belo Corp.

Meredith CEO On The Hunt For More Stations

Media company Meredith Corp. plans to aggressively grow its local TV station group through acquisitions that could eventually lead to a spin-off, the company’s CEO Stephen Lacy says: “We are putting together a hit-list of [TV] properties and working with owners.”

QUARTERLY REPORT

Meredith Local Media Revenue Up 3%

The total during the company’s fiscal 1Q 2014 of $89.6 million is up from $87.2 million in the same period last year, despite a big drop in political advertising. Retransmission consent revenue helped make up the difference.

Two Media Mainstays Expand Video Presence

Scripps Networks Interactive and magazine publisher Meredith Corp. are expanding their presence in online video, producing more original Web series as they follow consumer eyeballs and advertiser dollars.

Q&A WITH JOE SNELSON

SBE Prez Snelson On Duties, Industry Issues

Now in his 43rd year of broadcasting, Joe Snelson, VP engineering at Meredith Corp., was recently elected president of the Society of Broadcast Engineers. He says there are some new certification programs in the works, and talks about some of the bigger issues that the society is tackling today.

Meredith Declares Quarterly Dividend

The Meredith Corp. board of directors on Wednesday declared a regular quarterly dividend of $0.4075 per share, or $1.63 on an annual basis. The new dividend will be payable on Sept. 13 to shareholders of record on Aug. 30. Meredith has paid a dividend for 66 consecutive years and increased it for 20 years straight. Meredith’s dividend currently yields 3.5% based on Wed., Aug. 14’s closing price of $47.24.

Planets Align For Station Trading Tsunami

As one industry observer puts it: “If you’re not looking to merge or acquire, you’re a bonehead dinosaur. Everybody should be on the block. If you bought assets to eventually sell, now is the time to sell.” Among the station groups in play are Local TV LLC/FoxCo’s 21 stations; Allbritton; Grant Communications; and Granite Broadcasting. Possible buyers include Sinclair, Nexstar, Fox, Raycom, LIN and ABC.

QUARTERLY REPORT

Meredith Local Media Revenue Up 10%

The total during the company’s fiscal 3Q rose to $85 million, led by ad gains in the auto, retail and furnishing categories as well as increases in retrans fees.

Meredith Eyeing Time Inc. Magazines

Time Warner is in early discussions with the Meredith Corp. to put most of Time Inc.’s magazines — including People, InStyle and Real Simple — into a separate, publicly traded company that would also include Meredith titles like Better Homes and Gardens and Ladies’ Home Journal. Time, Sports Illustrated and Fortune would remain with Time Warner.

Cozi To Air Reality Music Show From Meredith

Next Great Family Band, a 30-minute weekly show produced by Meredith Video Studios, will premiere Feb. 17 on Cozi TV, the new network from the NBC Owned Television Stations division of NBCUniversal. The new series features 15 family bands from across the country, each hoping to follow in the footsteps of iconic family bands like […]