Media General, Young to combine TV operations

Jun 06, 2013

(AP)—Broadcast companies Media General and New Young Broadcasting say they are combining to create a company that will operate 30 TV stations in 27 markets.

Media General Inc.'s stock increased more than 23 percent after the announcement.

Media General sold its newspapers last year to focus on broadcasting. It currently owns 18 network-affiliated stations, including WFLA in Tampa, Fla., while Young owns or operates 12, including KRON in San Francisco.

The companies say that by combining, the stations will be more geographically diverse and will be in more markets that have strong ad revenue from .

The boards of both companies have approved the deal, as have Young's shareholders. It is subject to approval from Media General shareholders and from regulators. A vote has yet to be scheduled.

Explore further: BlackBerry courts iPhone users with cash

not rated yet
add to favorites email to friend print save as pdf

Related Stories

BCE resubmits Astral bid to broadcast regulator

Nov 19, 2012

(AP)—Canada's largest telecommunications company, BCE Inc., resubmitted a bid to the country's broadcast regulator to buy Astral Media Inc. for $3.38 billion, the companies said Monday.

Astral still in talks with BCE about takeover deal

Nov 16, 2012

(AP)—Canadian broadcasting and advertising company Astral Media Inc. said Friday that it is still talking with BCE Inc. in the hopes of finding a way to have the friendly takeover offer by the telecom giant win regulatory ...

Comcast, NBC to sell 1 TV station in Los Angeles

May 10, 2010

(AP) -- NBC Universal will sell one of the three Los Angeles stations it owns as cable TV provider Comcast Corp. tries to clear regulatory hurdles so it can acquire a controlling stake in the entertainment company.

Recommended for you

BlackBerry courts iPhone users with cash

6 hours ago

Canadian smartphone maker BlackBerry is wooing Apple customers with a cash offer for trade-ins of iPhones for its new square-screened, keyboard-equipped Passport.

HP earnings show continued struggle

7 hours ago

Venerable tech giant Hewlett-Packard has been struggling for three years to turn its business around. Its latest earnings show it still has more work ahead.

Apple market value hits $700 bn

13 hours ago

A rise in Apple shares Tuesday pushed the market value of the trend-setting US tech icon above $700 billion, becoming the first company to hit that milestone.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.