Media General/LIN TV to merge…

(edited from – Despite the regulatory turmoil in Washington, Media General (owners of Tampa’s WFLA, and Mobile/Pensacola’s WKRG) and LIN Media (owners of Mobile/Pensacola’s WKRG/WFNA) today pulled off a $1.6 billion merger that they say will result in the nation’s second largest pure-play TV station group by one measure (profit) with 74 stations in 46 markets and coverage of 23% of all TV homes.

Media General shareholders will end up with 64% of the new merged company that will be called Media General and be based in Media General’s Richmond, Va., offices, but LIN President and CEO Vincent Sadusky will retain those titles and run it.

Although current Media General CEO George Mahoney will be out when the merger closes, he was still very much in command on the conference call with securities analysts this morning….Cont….

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03 2014

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