Meredith Putting Up the For Sale Sign?

FTVLive has been telling you for months that Meredith was looking to sell off their TV stations and now that seems to be confirmed.

Bloomberg reports that Meredith is working with a financial adviser on the potential divestiture, said the people, who asked to not be identified because the matter isn’t public.

Meredith is said to wanting to focus the comapany’s attention on its magazine division.

Bloomberg reports that the move to sell their TV stations could help Meredith with its goal of paying down debt, which the company has said is its top priority.

It had about $3 billion of long-term debt at year-end, according to filings.

Meredith has made a number of cuts over the past year at their TV stations in an attempt to make itself more attractive to potential buyers.

The company was said to be interested in selling a block of TV stations, but now might be interested in selling all of them.

Meredith’s television arm consists of 17 stations, including affiliates of Fox and CBS, in markets such as Atlanta, Las Vegas and Portland, Oregon, according to its most recent annual report. The division contributed just 27% of its revenue in its most recent fiscal year.

A representative for Meredith declined to comment.