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MDP - Meredith holders approve $2.8 billion sale of local media operations
Meredith Corporation
Meredith (MDP +0.1%) shareholders have approved the deal selling its Local Media Group to Gray Television (GTN -2.8%) for $2.825 billion. That deal is tied to Meredith's spin-off of its National Media (its digital, magazine, MNI, People TV and corporate operations) to Dotdash (IAC +1.1%) for $2.7 billion, set to happen immediately prior to closing the Gray deal. Both those deals are set to close tomorrow. Meredith had won FCC approvals for both deals two weeks ago.