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MEREDITH ACQUISITIONS BY GRAY AND IAC'S DOTDASH RECEIVE REGULATORY APPROVALS
Nov. 15, 2021
Source: Meredith Corp. news release
DES MOINES, Iowa - Meredith Corporation (NYSE: MDP) announced today that its pending acquisitions by Gray Television Inc. and IAC's Dotdash Media Inc. received key regulatory approvals.
First, the Federal Communications Commission has approved Gray's acquisition of Meredith Corp., and Meredith will now seek the transaction's approval at a November 30, 2021, special shareholder meeting. Immediately prior to the Gray acquisition, Meredith will spin its digital, magazine, MNI, PEOPLE TV, and corporate operations out to shareholders as a new company, Meredith Holdings Corp., that Dotdash has agreed to acquire.
Additionally, Meredith announced the waiting period under the Hart-Scott-Rodino Antitrust Improvement Act of 1976 for Meredith Holdings' acquisition by Dotdash expired on November 12, 2021.
Meredith continues to expect both transactions to close on December 1, 2021, subject to shareholder approval of Gray's acquisition, and subject to the satisfaction of the other terms and conditions of the merger with Gray, as well as the spin-off of Meredith Holdings and its merger with Dotdash.
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