Meredith Corporation is hurting for money and while they tried cutting employees’ pay, issued hiring freezes, and made other cuts, they have one more thing they want to try.

Meredith is looking to split the company into two.

Meredith is proposing an amendment to its corporate charter that would allow for the company to split its national media business and its local media business.

In other words, they want to split their publishing business of magazines and their local TV business.

Meredith owns 18 TV stations across 13 states, including the WGCL in Atlanta, KMOV in St. Louis and KPHO/KTVK in Phoenix.

So, why would Meredith want to do this?

Easy, it makes it easier to put the groups up for sale.

A group that is interested in buying TV station is not going to give a rip about the stupid magazine business.

The same thing with a publisher. They may have an interest in magazines, but they don’t want local TV stations.

In a statement, Meredith says that splitting the company in two, “is not in response to any specific conversations or events. Instead, the Company believes it is a prudent step to increase the number of options available.”

Not sure I buy that, but okay.

Don’t be surprised if Meredith stations are sold to another group in the next year or so.

As one insider said to FTVLive, “The Meredith stations will be sold, but not many are looking to buy in the middle of a pandemic.”

Stay tuned….