Meredith Corp., the media company that publishes Better Homes and Gardens and Family Circle, has agreed to buy broadcast stations from Gannett Co. for $407.5 million, extending its push into television. The stations, part of Gannett's acquisition of Belo Corp., are in Phoenix and St. Louis, Meredith said, and are expected to boost earnings by 16 cents to 18 cents a share.
New-home sales on uneven pace
Sales of new homes slipped 2.1 percent in November after surging 17.6 percent in October, the Commerce Department said Tuesday. The figures add to evidence that the housing market is struggling to sustain the pace of its recovery. In a separate Commerce Department report, orders for durable goods jumped 3.5 percent last month compared with October, the latest evidence of a rebound in manufacturing.