KPTV-KPDX parent company Meredith to merge with Media General - KPTV - FOX 12

KPTV-KPDX parent company Meredith to merge with Media General

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Meredith Corporation, the parent company of KPTV and KPDX, announced Tuesday morning that it was merging with local and digital media company Media General.

The new company, Meredith Media General, will now operate local media properties in 54 markets, as well as powerful digital media platforms that reach over 200 million monthly unique users and strong national media brands such as Better Homes and Gardens, Allrecipes, Parents and Shape.

“We are excited about the opportunity to create a powerful new multiplatform and diversified media company with significant operations on the local and national levels,” Meredith CEO Steve Lacy said. “This merger will create a strong and efficient company positioned to realize the significant earnings and cash flow potential of local broadcasting; leverage the unparalleled reach and rich content-creation capabilities of Meredith’s national brands; and capture the rapidly developing growth potential of the digital media space.”

Lacy will serve as the CEO of the new company, with the rest of the senior management coming from a combination of the two existing executive teams.

More details on the merger are available on Meredith.com.

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