M&A Deal Summary

Meredith Acquires WGGB

On June 19, 2014, Meredith acquired media company WGGB from Gormally Broadcasting for 54M USD

Acquisition Highlights
  • This is Meredith’s 8th transaction in the Media sector.
  • This is Meredith’s 4th largest (disclosed) transaction.
  • This is Meredith’s 12th transaction in the United States.
  • This is Meredith’s 1st transaction in Massachusetts.

M&A Deal Summary

Date 2014-06-19
Target WGGB
Sector Media
Buyer(s) Meredith
Sellers(s) Gormally Broadcasting
Deal Type Divestiture
Deal Value 54M USD

Target

WGGB

Springfield, Massachusetts, United States
website
WGGB, Inc. operates as a television broadcasting company.Its channels offers news and information related to weather, sports, and employment.

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Buyer(S) 1

Buyer

Meredith

Des Moines, Iowa, United States

website


Category Company
Founded 1902
Sector Media
Employees5,290
Revenue 2.8B USD (2020)
DESCRIPTION
Meredith's corporate headquarters in downtown Des Moines, Iowa.
Meredith's corporate headquarters in downtown Des Moines, Iowa.

Meredith is a media and marketing company spanning broadcast television, print, and digital. Meredith is a leader in creating content across media platforms in key consumer interest areas such as food, home, parenthood and health through well-known brands such as Better Homes and Gardens, Parents and Allrecipes. The National Media Group features robust brand licensing activities, including over 3,000 SKUs of branded products at 4,000 Walmart stores across the U.S. Meredith Xcelerated Marketing is a content-powered consumer engagement agency that provides integrated marketing solutions for many of the world's top brands, including Kraft, Lowe's, Chrysler and NBC Universal. Meredith's Local Media Group includes 17 owned or operated television stations reaching nearly 11 percent of U.S. households. Meredith's portfolio is concentrated in large, fast-growing markets, with seven stations in the nation's Top 25 - including Atlanta, Phoenix and Portland - and 13 in Top 50 markets. Meredith's stations produce approximately 650 hours of local news and entertainment content each week, and operate leading local digital destinations. Additionally, Meredith Video Studios produces the Daytime Emmy Award-nominated The Better Show, a syndicated daily lifestyle television program reaching 80 percent of U.S. TV households. Meredith was formed in 1902 and is based in Des Moines, Iowa.


DEAL STATS #
Overall 12 of 19
Sector (Media) 8 of 9
Type (Divestiture) 6 of 7
State (Massachusetts) 1 of 1
Country (United States) 12 of 19
Year (2014) 3 of 6
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-19 KTVK-TV

Phoenix, Arizona, United States

KTVK-TV, Inc.is a virtual channel 3 and it is a independent television station located in Phoenix, Arizona, United States.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-23 KASW-TV

Phoenix, Arizona, United States

KASW-TV, a CW network affiliated television broadcasting station that serves and is located in Phoenix, Arizona region.

Sell -

Seller(S) 1

SELLER

Gormally Broadcasting

Springfield, Massachusetts, United States

Category Company
Founded 2007
Sector Media
DESCRIPTION

Gormally Broadcasting LLC publishes BusinessWest Magazine. The company also owns TV broadcast channels.


DEAL STATS #
Overall 1 of 1
Sector (Media) 1 of 1
Type (Divestiture) 1 of 1
State (Massachusetts) 1 of 1
Country (United States) 1 of 1
Year (2014) 1 of 1
Size (of disclosed) 1 of 1