Magazine Media Giant Bolsters TV Holdings

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Des Moines-based Meredith Corp. has added to its stable of tv stations by acquiring two stations from Gannett Co. for $407 million, mediabistro.com FishbowlNY reported.

Meredith adds Top 25 Market St. Louis' KMOV-TV and KASW-TV in Phoenix to its holdings of 12 television stations and approximate 30 magazines with the purchase, which is expected to be finalized during the first quarter of 2014 pending FCC approval. The media conglomerate already owns Phoenix CBS affiliate KPHO-TV.