Gannett finds buyer for CBS affiliate in STL

Posted online December 27, 2013 | 5:47 am

McLean, Va.-based Gannett Co. has found a buyer for its CBS affiliate in St. Louis, KMOV. The sale is required by the Justice Department for the government body to give the green light to Gannett's $2.2 billion purchase of Dallas-based Belo Corp.

Des, Moines, Iowa-based Meredith Corp. has agreed to buy the St. Louis station and two others in Phoenix for $407.5 million, according to the St. Louis Business Journal.

Meredith reported net income of more than $24 million for its fiscal first quarter ended Sept. 30.

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