Meredith plans to sell TV stations to focus exclusively on magazine print and digital content Kim Norvell, Des Moines Register
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In a major shift, Des Moines-based Meredith Corp. announced Monday it is selling its television stations to focus exclusively on its iconic print and digital products, including People, Better Homes & Gardens, and Allrecipes.
Its board of directors voted unanimously to sell the company s 17-station broadcasting division, Local Media Group, to Gray Television Inc. for $2.7 billion in cash, according to a news release. The group includes stations in major markets including Kansas City, Missouri; St. Louis; Phoenix; Portland, Oregon; and Atlanta, where Gray is based.
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On Friday, the Federal Communications Commission (FCC) announced the release of a draft Report and Order establishing the Emergency Connectivity Fund Program (ECFP), pursuant to the American Rescue Plan Act of 2021. According to FCC’s press release, the ECFP would, among other things, reimburse schools and libraries for the purchase of broadband connections and devices during the COVID-19 pandemic for students, school staff, and library patrons.
The FCC explained that prior to the pandemic, millions of students without home internet and computer access were caught in the “Homework Gap.” The pandemic reportedly inflamed the inequity, driving the FCC to act in order to help students, educators, and library patrons “engage in online learning and in so many other vital aspects of our increasingly digital lives.”
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The US Supreme Court ruled last week that the Federal Trade
Commission doesn t have the authority to seek equitable
monetary relief in federal court under Section 13(b) of the FTC Act
in
The text of Section 13(b) expressly allows the Commission to
seek injunctive relief (temporary restraining orders or preliminary
injunctions in aid of administrative proceedings, as well as
permanent injunctions in proper cases ), but is silent
on whether the agency can also seek equitable monetary relief.
Nonetheless, courts for years have ordered consumer redress,
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