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Meredith Corporation Shareholders Approve Sale To Gray Television For $2.825B

Author: Benzinga Newsdesk | November 30, 2021 01:18pm

Meredith Corporation (NYSE:MDP) announced its pending $2.825 billion acquisition by Gray Television Inc. received shareholder approval at a special shareholder meeting held earlier today. Meredith expects to file a Form 8-K tomorrow disclosing the full voting results of the special meeting.

Meredith introduces an updated market positioning and logo that reflect the strength of Meredith's national and local consumer media brands as well as its expanded portfolio of marketing solutions. (PRNewsFoto/Meredith Corporation) (PRNewsfoto/Meredith Corporation)

Immediately prior to the Gray acquisition close, Meredith will spin its digital, magazine, MNI, PEOPLE TV, and corporate operations out to its shareholders as a new company, Meredith Holdings Corp., that IAC's Dotdash has agreed to acquire for $2.7 billion.

Both transactions are expected to close on December 1, 2021, each subject to the satisfaction of the other terms and conditions of the applicable merger agreement and the completion of the spin-off of Meredith Holdings Corp.

Posted In: GTN MDP

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