Local Fox TV affiliate, WALA-TV, sold

RTT News reports that Meredith Corp. has agreed to buy the broadcast assets of WALA-TV, the Fox affiliate in Mobile-Pensacola, from Media General, Inc. for about $86 million subject to certain purchase price adjustments. The deal will close when Media General’s merger with LIN Media LLC and the sale of WALA to Meredith receive final regulatory approval.

Meredith is a national media and marketing company that focuses on serving American women. Better Homes and Gardens, Parents, Family Circle, Fitness, More, American Baby, Every Day with Rachael Ray and FamilyFun are some of its national publications. Read more.