March 21 (Reuters) - Media General Inc said on Friday it would buy LIN Media LLC for $1.6 billion to create the second largest local TV broadcast company in the United States.
* Futures up: Dow 20 pts, S&P 4.2 pts, Nasdaq 9.5 pts (Updates prices and adds Media General deal)
Broadcast media names get jiggy after Media General agrees to buy Lin Media for nearly double last night's close. Gray Television ( GTN ) +9.2% premarket, Nexstar Broadcasting
owners will receive $763M in cash and 49.5M shares of Media General ( MEG ) - total consideration of about $27.82 per share ..... Sadusky will become CEO of the new company to be named Media General . CC at 10 ET Press release Post your comment!
(Corrects paragraph 1 to say the deal creates the second-largest pure-play TV broadcaster, not largest and most diversified)
Broadcast Group ( SBGI ) -7.4% , E.W. Scripps ( SSP ) -5. 4%, Entravision Communication ( EVC ) -2.7%, Media General ( MEG ) - 5.0% . The PowerShares Dynamic Media ETF ( PBS ) is under-performing a bit today due to its exposure to
(Reuters) - Media General Inc and privately held New Young Broadcasting Holding Co Inc said they will combine in an all-stock deal to form a new TV broadcasting company that will be majority...
traditional investment activities that Berkshire has been doing. We know that Weschler was involved in some of the Media General stuff that was going on on the debt financing side, and we wouldn't really be surprised to hear that they were involved
that Buffett has the two managers involved in some of Berkshire's nontraditional investments, like its deal with Media General last year, and wouldn't be surprised to learn that they worked on the Heinz deal with 3G Capital. While we still
Combs, with the former likely behind the purchases of shares of DIRECTV Group DTV, DaVita DVA, Viacom VIAB, and Media General MEG , given his penchant for media stocks, while the latter was likely behind increased stakes in Bank of New York Mellon