- Associated Press - Wednesday, August 20, 2014

MOBILE, Ala. (AP) - The Meredith Corp. is planning to buy a south Alabama FOX affiliate from Media General, Inc.

In a statement Wednesday, Meredith Corp. CEO Stephen Lacy said WALA-TV is a high-performing station that’s expected to boost corporation’s earnings.

WALA-TV covers the Mobile, Alabama and Pensacola, Florida areas. Meredith officials say buying the station is the latest in a series of strategic broadcast acquisitions.

The Des Moines, Iowa-based corporation bought television stations in Phoenix and St. Louis earlier this year, and recently announced a plan to buy a station in Springfield, Massachusetts. The corporation also operates on print and digital platforms.

Meredith officials say they’re expecting to pay about $86 million. The transaction is expected to close when Meredith merges with LIN Media LLC and the sale gets final regulatory approval.