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. But soon after the announcement dissenting voices were heard from the ranks of Media General shareholders. Then Nexstar Broadcasting Group made an offer to acquire Media General. Meredith countered, but after months of back-and-forth, Media General agreed in January to a $4.6 billion offer from Nexstar that included a $60 million termination fee to Meredith.
Bloomberg reported in March that Meredith would be interested in buying some of Tribune Media’s stations following Tribune’s announcement it had hired two investment firms to conduct “a review of strategic and financial alternatives.”
In January, Meredith and Cox Media Group formed a “co-op” to buy programming and technology and share resources.
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