Gannett Co., Inc. (NYSE: GCI) today completed the previously announced sale of KTVK-TV and KASW-TV in Phoenix, AZ, to Meredith Corporation (NYSE: MDP). Gannett and Sander Media LLC conveyed assets to Meredith acquired following the December 2013 Gannett-Belo transaction. This completes the sale of stations to Meredith that was previously announced in December of 2013. The total sale price of the combined stations (those in Phoenix and KMOV-TV in St. Louis) was $407.5 million in cash.
Business transactions partner and securities practice chair John Partigan led the Nixon Peabody LLP team which also included antitrust partner Gordon Lang, tax partner Christian McBurney, benefits partner Brian Kopp, labor partner Michael Hausknecht, antitrust counsel Alycia Ziarno, real estate associate Rob Brenner and corporate associates Tiana Butcher and Pierce Han.
