Media General

{{prose|section|date=March 2016}}

The conglomeration of newspapers was founded in 1940 when owners of Richmond, Virginia's two newspapers, the Times-Dispatch and News Leader, merged them to form Richmond Newspapers, Inc. In 1966, it purchased a majority interest in the Tampa Tribune, which included WFLA-AM-FM-TV in Tampa, making that the company's first ever foray into television, a strategy that was later used by such acquisition practices.{{Cite news|date=January 17, 1966|title=Richmond company buys Tampa operations|work=Broadcasting|url=https://worldradiohistory.com/hd2/IDX-Business/Magazines/Archive-BC-IDX/66-OCR/1966-01-17-BC-OCR-Page-0062.pdf|access-date=November 28, 2021}} In 1969, as the company's media properties grew and diversified, it was renamed Media General.

In 1981, the company began its expansion practice of television stations under the Media General Telecommunications subsidiary. It first purchased WJKS-TV in Jacksonville from Ziff-Davis Broadcasting on December 7, 1981, for $18 million, the sale was approved on November 8, 1982.{{Cite news|date=December 7, 1981|title=Changing Hands|work=Broadcasting|url=https://worldradiohistory.com/hd2/IDX-Business/Magazines/Archive-BC-IDX/81-OCR/1981-12-07-BC-OCR-Page-0068.pdf|access-date=November 28, 2021}}{{Cite news|date=November 8, 1982|title=Changing Hands|work=Broadcasting|url=https://worldradiohistory.com/hd2/IDX-Business/Magazines/Archive-BC-IDX/82-OCR/1982-11-08-BC-OCR-Page-0083.pdf|access-date=November 28, 2021}} On July 5, 1982, the company bought out WCBD-TV in Charleston from the State Telecasting Company for $8 million, the deal was approved on January 24, 1983.{{Cite news|date=July 5, 1982|title=Changing Hands|work=Broadcasting|url=https://worldradiohistory.com/hd2/IDX-Business/Magazines/Archive-BC-IDX/82-OCR/1982-07-05-BC-OCR-Page-0068.pdf|access-date=November 28, 2021}}{{Cite news|date=January 24, 1983|title=Changing Hands|work=Broadcasting|url=https://worldradiohistory.com/hd2/IDX-Business/Magazines/Archive-BC-IDX/83-OCR/BC-1983-01-24-OCR-Page-0075.pdf|access-date=November 28, 2021}}

In 1982 the company acquired The William B. Tanner Company (previously known as Pepper-Tanner), a commercial radio jingle production company headquartered in Memphis. It was divested in 1988. In 1987, Media General, which included its Media General Broadcast Group comprising three television stations at that time, as well as its cable systems in various areas was sold off to a group led by The Giant Group, a firm owned by Burt Sugarman, which purchased a stake for $103.8 million, with backing also held by television production company Barris Industries.{{Cite news |date=October 28, 1987 |title=Sugarman Makes Unsolicited Bid To Acquire Media General Firm |page=45 |work=Variety}}

In 1996, Media General acquired Park Acquisitions, the holding company for Park Communications, formerly owned by the media entrepreneur Roy H. Park.{{cite web|url=https://apnews.com/d98323fab12470f79c6ce7bb5acd893e|title=Media General Buys Park Acquisitions For $710 Million|last=Callan|first=Kathleen|date=July 22, 1996|publisher=Associated Press|access-date=March 27, 2014}}

In 1999, Media General bought Spartanburg-based Spartan Communications, which increased Media General's station portfolio from 14 to 27.{{cite web|url=https://variety.com/1999/biz/news/media-gen-l-buys-spartan-for-605-mil-1117758770/|title=Media Gen'l buys Spartan for $605 mil|last=Schneider|first=Michael|date=December 8, 1999|access-date=March 27, 2014}}

Four NBC-owned stations in smaller markets were put up for sale on January 9, 2006. On April 6, NBC Owned Television Stations and Media General announced that the latter would purchase the four NBC O&O's as part of a $600 million four-station deal between the two companies.

On July 28, 2006, Media General announced that they would sell KWCH-TV and its satellites to a Schurz Communications-affiliated company Sunflower Broadcasting for $73 million.{{Cite web |last=Mazzullo |first=Lainie |date=July 28, 2006 |title=KWCH Channel 12 sold for $73 million |url=https://www.bizjournals.com/wichita/stories/2006/07/24/daily24.html |access-date=March 21, 2022 |website=Wichita Business Journal}} On August 2, 2006, Media General announced that it would sell WIAT and KIMT to New Vision Television for $35 million; the sale was finalized on October 12, 2006. Between 2006 and 2008, Morris Network, a division of Morris Multimedia bought out two station properties, WDEF and WTVQ, the former's price for WDEF cost $22 million, and the latter's price for WTVQ-TV cost $16.5 million, totaling up a $38.5 million budget for the combined two stations.{{Cite web |author= |date=October 13, 2006 |title=MEDIA GENERAL COMPLETES CHATTANOOGA SALE |url=https://tvnewscheck.com/uncategorized/article/media-general-completes-chattanooga-sale/ |access-date=December 8, 2021 |website=TV News Check |language=en}}{{Cite web |date=March 9, 2008 |title=Media General spins begin {{!}} Radio & Television Business Report |url=https://www.rbr.com/media-general-spins-begin-2/ |access-date=December 8, 2021 |work=RBR |language=en-US}}{{cite press release |title=Media General Announces Sale of WTVQ-TV in Lexington, Ky., to Morris Network, Inc. |publisher=Media General |date=March 7, 2008 |url=http://www.mediageneral.com/press/2008/mar7_08.html |access-date=March 7, 2008 |archive-url=https://archive.today/20120907154421/http://www.mediageneral.com/press/2008/mar7_08.html |archive-date=September 7, 2012 |url-status=dead }}

On October 29, 2007, Media General announced that the company was exploring the sale of WCWJ, KALB-TV, WMBB, and WNEG-TV. On March 14, 2008, the company reached an agreement to sell KALB and WMBB to Hoak Media. The deal was closed on July 16. On June 25, 2008, Media General announced the sale of WNEG-TV to the University of Georgia.{{cite press release |title=Media General Announces Sale of WNEG in Toccoa, Ga., to University of Georgia Research Foundation |publisher=Media General |date=June 25, 2008 |url=http://www.mediageneral.com/press/2008/june25_08.html |access-date=June 25, 2008 |archive-url=https://web.archive.org/web/20080820114801/http://mediageneral.com/press/2008/june25_08.html |archive-date=August 20, 2008 |url-status=dead }} On January 28, 2009, Nexstar Broadcasting Group announced that it had reached an agreement to purchase WCWJ. The deal was finalized on May 1, 2009.

On June 6, 2013, Young Broadcasting announced that it would merge with Media General.{{Cite news|url=https://deadline.com/2013/06/media-general-and-young-broadcasting-agree-to-merge-514580/|title=Media General And Young Broadcasting Agree To Merge|last=Lieberman|first=David|date=June 6, 2013|work=Deadline|access-date=November 26, 2018|language=en-US}} On November 8, the FCC approved the merger.{{cite web|url=http://www.mediageneral.com/press/2013/nov8_13.html/ |title=Media General Receives FCC Approval for Merger with Young Broadcasting; Plans to Close Transaction on Tuesday, November 12, 2013 |access-date=December 25, 2013 |url-status=dead |archive-url=https://web.archive.org/web/20131121231740/http://www.mediageneral.com/press/2013/nov8_13.html/ |archive-date=November 21, 2013 }} The merger closed on November 12.{{cite news|title=Media General, Young Now Officially One|url=http://www.tvnewscheck.com/article/71928/media-general-young-now-officially-one|access-date=November 12, 2013|newspaper=TVNewsCheck|date=November 12, 2013}} Following the merger, the new company was owned 67.5 percent by Young shareholders and 32.5 percent by Media General shareholders.{{cite news|last1=Ghosh|first1=Sayantani|title=Media General to merge with privately held New Young Broadcasting|url=https://www.reuters.com/article/us-mediageneral-newyoung-merger-idUSBRE9550UC20130606|website=Reuters|date=June 6, 2013|access-date=January 31, 2017}} The combined company owned 30 stations, reaching 14% of the United States.[http://www.tvnewscheck.com/article/68068/media-general-young-broadcasting-to-merge Media General, Young Broadcasting To Merge], TVNewsCheck, June 6, 2013. and continued to operate as Media General. Headquarters would remain in Richmond, Virginia, however, for the first time in over a century, the Bryan Family would not have a controlling interest in the company.{{cite web|title=Overview of Media General, Inc., Prior to Reverse Merger with Young Broadcasting|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=288355|website=Bloomberg|access-date=January 31, 2017}}

On March 21, 2014, Media General and LIN Media announced that the two companies would merge. The deal, worth an estimated $1.6 billion, would create an entity of 71 stations with a combined reach of 24% of U.S. television households. 45 Media General staff members were laid off; CEO George Mahoney stepped down in favor of his LIN counterpart Vincent Sadusky.{{cite news|title=Setting The New Order At New Media General|url=http://www.tvnewscheck.com/article/77598/setting-the-new-order-at-new-media-general|access-date=August 4, 2014|work=TVNewsCheck|date=July 9, 2014}} In order to comply with FCC ownership rules as well as planned changes to rules regarding same-market television stations which would prohibit future joint sales agreements, some of the stations would be sold to several other companies in five markets (Birmingham, Green Bay, Mobile, Providence and Savannah) where both groups already own stations.[https://variety.com/2014/tv/news/tv-station-mega-merger-media-general-lin-set-1-6-billion-deal-1201141567/ TV Station Mega Merger: Media General, LIN Set $1.6 Billion Deal] from Variety (March 21, 2014)[https://www.latimes.com/entertainment/envelope/cotown/la-et-ct-lin-media-general-merge-20140321,0,5277028.story Media General acquiring LIN Media for $1.6 billion], Los Angeles Times, March 21, 2014.[http://www.tvnewscheck.com/article/74959/media-genlin-to-sellswap-in-five-markets Media Gen/LIN To Sell/Swap In Five Markets], TVNewsCheck, March 21, 2014.

On August 20, 2014, Media General and LIN Media announced several sales. Media General sold WJAR, WLUK, WTGS and WCWF to the Sinclair Broadcast Group in exchange for Sinclair's KXRM, KXTU, WHTM and WTTA. Although the WHTM sale was discussed two months earlier, it was completed in September 2014, the rest of the transactions would not come into effect until the deal was completed.{{Cite web|author=|date=June 23, 2014|title=Media General Buying WHTM For $83.4M|url=https://tvnewscheck.com/uncategorized/article/media-general-buying-whtm-for-83-4m/|access-date=November 22, 2021|website=TV News Check|language=en}}{{Cite press release|date=September 2, 2014|title=Media General Completes Acquisition of WHTM-TV in Harrisburg, PA|url=https://www.businesswire.com/news/home/20140902006403/en/Media-General-Completes-Acquisition-of-WHTM-TV-in-Harrisburg-PA|access-date=November 22, 2021|website=www.businesswire.com|language=en}} Hearst Television acquired WVTM and WJCL, and Meredith Corporation acquired WALA.{{cite web|url=http://www.tvnewscheck.com/article/78615/media-general-lin-sell-stations-in-5-markets|title=Media General, LIN Sell Stations In 5 Markets - TVNewsCheck.com|website=www.tvnewscheck.com|date=August 20, 2014|access-date=April 17, 2018}} On October 6, the two companies' shareholders approved the deal,{{cite web|url=http://www.mediabistro.com/tvspy/media-general-and-lin-merger-approved-by-shareholders_b130680|title=TVSpy - Jobs in Local Television|website=www.mediabistro.com|access-date=April 17, 2018}} and the FCC approved the deal on December 12.{{cite web|url=http://www.fcc.gov/document/media-bureau-approves-lin-media-and-media-general-transaction|title=Media Bureau Approves LIN Media and Media General Transaction|date=December 10, 2015|access-date=April 17, 2018}} The merger was completed on December 19.[http://www.mediageneral.com/press/2014/dec19_14_merger.html Media General Completes Merger With LIN Media] {{webarchive|url=https://web.archive.org/web/20141219194453/http://www.mediageneral.com/press/2014/dec19_14_merger.html |date=December 19, 2014 }}, Press Release, Media General, Retrieved December 19, 2014 A condition of the deal requires Media General to end the joint sales and shared services agreements it has with stations in Youngstown, Ohio, Dayton, Ohio, and Topeka, Kansas, due to tighter scrutiny such deals are getting by the FCC. Media General received a two-year waiver in those markets to end the JSAs and SSAs.[http://www.broadcastingcable.com/news/local-tv/fcc-okays-media-generallin-merger/136356 FCC Okays Media General/LIN Merger] Broadcasting & Cable (December 12, 2014)

On July 14, 2015, Media General pulled its stations off of Mediacom cable systems across the United States due to a carriage dispute over retransmission consent fees.{{cite news|first=Dave|last=Seyler|url=http://rbr.com/media-general-v-mediacom|title=Media General v. Mediacom|work=Television Business Report|date=July 15, 2015|access-date=August 29, 2015}} This carriage dispute saw Media General stations disappear from Mediacom lineups in 14 television markets across the United States and even three of the Fox affiliates owned by Media General were lost to Mediacom subscribers in Hampton Roads, Virginia, Terre Haute, Indiana, and Topeka, Kansas just before the start of the 2015 Major League Baseball All-Star Game.{{cite news|first=Mike|last=Farrell|url=http://www.multichannel.com/news/cable-operators/media-general-stations-go-dark-mediacom-customers/392205|title=Media General Stations Go Dark on Mediacom|work=Multichannel News|date=July 15, 2015|access-date=August 29, 2015}} On July 30, 2015, Mediacom and Media General reached a new agreement, thereby restoring Media General owned stations to Mediacom subscribers in the affected areas.{{cite news|first=John|last=Eggerton|url=http://www.broadcastingcable.com/news/washington/mediacom-media-general-strike-retrans-deal/142937|title=Mediacom, Media General Strike Retrans Deal|work=Broadcasting & Cable|date=July 30, 2015|access-date=August 29, 2015}}

On July 13, 2016, the FCC issued a $700,000 fine against Media General for using a shared services agreement with WAGT to prevent its new owner Gray Television from divesting it in the spectrum incentive auction.{{cite web|title=In the Matter of Media General Operations, Inc.|url=http://transition.fcc.gov/Daily_Releases/Daily_Business/2016/db0713/DA-16-794A1.pdf|publisher=FCC|access-date=July 14, 2016}}

On September 8, 2015, it was announced that Media General would acquire Meredith Corporation in a cash and stock deal valued at $2.4 billion. Pending regulatory and shareholder approval, the deal was expected to be consummated in June 2016. The combined company was to be known as Meredith Media General, and become the third-largest owner of television stations in the United States—serving an estimated 30% of households. In order to comply with FCC regulations, some stations would have been sold to other companies in six markets where both groups already own stations (Greenville-Spartanburg, Hartford-New Haven, Mobile, Nashville, Portland (OR) and Springfield (MA)). Media General shareholders would have controlled 65% of the company, with Meredith shareholders holding 35%.{{cite news|title=Media General to Buy Meredith Corp. for $2.4 Billion|url=https://www.wsj.com/articles/media-general-to-buy-meredith-corp-for-2-4-billion-1441709372|access-date=September 8, 2015|work=The Wall Street Journal|date=September 8, 2015}}

On September 28, it was revealed that Nexstar Broadcasting Group had made an unsolicited cash-and-stock offer for Media General, valued at $14.50 per-share. Following the announcement, Media General shareholders Oppenheimer Holdings (7% stake) and Starboard Capital (4.5% stake) opposed the Meredith merger in favor of selling to Nexstar. On October 6, 2015, the New York Post speculated that the deal had been called off, believing that the deal was unlikely to receive further shareholder support due to these objections. Both companies have denied that this was the case, and reported that other major shareholders were backing the merger.{{cite news|title=Media General's bid to acquire Meredith is dead: sources|url=https://nypost.com/2015/10/06/media-general-drops-bid-to-acquire-meredith/|access-date=October 6, 2015|work=New York Post|date=October 7, 2015}}{{cite news|title=Meredith, Media General stand by deal despite report|url=http://www.desmoinesregister.com/story/money/business/2015/10/07/report-meredith-media-general-deal-jeopardy/73510926/|access-date=October 8, 2015|work=Des Moines Register}} Media General hired additional firms to evaluate the Nexstar bid.{{cite news|title=Meredith Deal Said on Hold as Media General Assesses Nexstar Bid|url=https://www.bloomberg.com/news/articles/2015-10-07/meredith-deal-said-on-hold-as-media-general-assesses-nexstar-bid|access-date=October 9, 2015|work=Bloomberg}} On November 16, Media General rejected the offer but agreed to negotiate after concluding its merger with Meredith.{{cite web|url=https://deadline.com/2015/11/media-general-rejects-nexstar-1-9b-offer-1201625231/|title=Media General Rejects Nexstar's $1.9B Offer, But Agrees To Talk|first=David|last=Lieberman|date=November 16, 2015|access-date=April 17, 2018}}

On January 27, 2016, Media General announced that it had entered into a definitive agreement to be acquired by Nexstar in a deal valued at $17.14 per-share, valuing the company at $4.6 billion plus the assumption of $2.3 billion debt. The combined company will be known as Nexstar Media Group, and own 171 stations, serving an estimated 39% of households. The company will pay Meredith a termination fee of $60 million, and give Meredith right of first refusal to acquire any broadcast or digital properties that may be divested during the merger (a clause that Meredith did not exercise). The deal also includes contingent value rights for Media General shareholders if it sells spectrum from its stations during the FCC's spectrum incentive auction.{{cite web|title=Nexstar-Media General: It's A Done Deal|url=http://www.tvnewscheck.com/article/91865/nexstarmedia-general-its-a-done-deal|website=TVNewsCheck|access-date=January 27, 2016}}{{cite news|title=Nexstar Clinches Deal to Acquire Media General|url=https://www.nytimes.com/2016/01/28/business/dealbook/nexstar-clinches-deal-to-acquire-media-general.html?_r=0|access-date=January 27, 2016|work=The New York Times| date=January 27, 2016 | last1=Picker | first1=Leslie }}

The transaction was approved on January 11, 2017,{{cite web|title=FCC Approves Nexstar's $4.6B Acquisition Of Media General|url=https://deadline.com/2017/01/fcc-approves-nexstar-4-6b-acquisition-media-general-1201883297/|website=Deadline|date=January 11, 2017|access-date=January 11, 2017}} with the sale consummated six days later, on January 17.{{Cite press release|url=https://www.nexstar.tv/nexstar-broadcasting-group-completes-acquisition-of-media-general-creating-nexstar-media-group-the-nations-second-largest-television-broadcaster/|title=Nexstar Broadcasting Group Completes Acquisition of Media General Creating Nexstar Media Group, The Nation's Second Largest Television Broadcaster|date=January 17, 2017|website=Nexstar Media Group|access-date=November 25, 2018}}

On May 17, 2012, it was announced that investment company Berkshire Hathaway would be acquiring Media General's newspaper division (excluding The Tampa Tribune). The newspapers were planned to be merged into Berkshire Hathaway's World Media Enterprises division, a sister company of its other newspaper holdings under the Omaha World-Herald.{{cite web|url=https://deadline.com/2012/05/media-general-shares-soar-after-warren-buffett-agrees-to-buy-its-newspapers-273958/|title=Media General Shares Soar After Warren Buffett Agrees To Buy Its Newspapers|first=David|last=Lieberman|date=May 17, 2012|access-date=April 17, 2018}} The deal closed June 25, 2012.{{cite web |url=http://www2.timesdispatch.com/business/news/2012/jun/25/tdmain01-few-changes-expected-in-sale-of-the-times-ar-2010929/ |title=New owner, era for The Times-Dispatch |work=Richmond Times-Dispatch|access-date=March 24, 2014 |url-status=dead |archive-url=https://archive.today/20130204085812/http://www2.timesdispatch.com/business/news/2012/jun/25/tdmain01-few-changes-expected-in-sale-of-the-times-ar-2010929/ |archive-date=February 4, 2013 }} Media General's chairman and former CEO, J. Stewart Bryan III said the company faced a choice: either sell its newspaper division or file for bankruptcy protection. The latter, he said, was "unacceptable."{{cite web |url=http://www2.timesdispatch.com/business/news/2012/may/18/tdmain01-media-general-chairman-a-very-bittersweet-ar-1923367/ |title=Media General chairman: 'A very bittersweet day' |work=Richmond Times-Dispatch|date=May 18, 2012 |access-date=March 24, 2014 |url-status=dead |archive-url=https://archive.today/20130204105143/http://www2.timesdispatch.com/business/news/2012/may/18/tdmain01-media-general-chairman-a-very-bittersweet-ar-1923367/ |archive-date=February 4, 2013 }} At the end of 2011, Media General had $658 million in debt.{{cite web |url=http://www2.timesdispatch.com/business/2012/mar/21/media-general-amends-credit-agreement-ar-1780059/ |title=Media General gets 'some breathing room' with credit agreement amendment |work=Richmond Times-Dispatch |date=March 21, 2012 |access-date=March 24, 2014 |url-status=dead |archive-url=https://archive.today/20130204141311/http://www2.timesdispatch.com/business/2012/mar/21/media-general-amends-credit-agreement-ar-1780059/ |archive-date=February 4, 2013 }} In October 2012, The Tampa Tribune and its associated print and digital products were acquired by Tampa Media Group, Inc., a new company formed by Revolution Capital Group.{{cite web|url=https://abcnews.go.com/US/wireStory/tampa-tribune-sold-private-equity-firm-17422646|title=Tampa Tribune Sold|website=ABC News|access-date=April 17, 2018}}

• Richmond Times-Dispatch
• The Tampa Tribune
• Winston-Salem Journal

• Dothan Eagle
• [http://www.eprisenow.com The Enterprise Ledger]
• Opelika-Auburn News
• [http://www.eufaulatribune.com The Eufaula Tribune]
• [http://www.thecornernews.com The Corner News]

• (Brooksville) [http://www.hernandotoday.com Hernando Today] (associated with The Tampa Tribune)
• (Sebring) Highlands Today (associated with The Tampa Tribune'')
• [http://www2.jcfloridan.com/ Jackson County Floridan] (Marianna)
• CENTRO Tampa (Spanish-language weekly)
• (New Port Richey) [http://www.suncoastnews.com The Suncoast News] (associated with The Tampa Tribune)

• The (Eden) Daily News
• Hickory Daily Record
• {{webarchive |url=http://webarchive.loc.gov/all/20120412141927/http%3A//www2.independenttribune.com/ |title=(Concord & Kannapolis) Independent Tribune |date=April 12, 2012}}
• The (Marion) McDowell News
• The (Madison) Messenger
• The (Morganton) News Herald
• The Reidsville Review
• Statesville Record & Landmark

• The Morning News (Florence) Daily Newspaper for Florence and the Pee Dee Region
• The News and Post (Lake City) {{spaced ndash}} Weekly
• The Marion Star (Marion){{spaced ndash}} Weekly
• The Weekly Observer (Hemingway){{spaced ndash}} Weekly
• The Hartsville Messenger {{spaced ndash}} Weekly

• Amherst New Era-Progress
• Powhatan Today
• Midlothian Exchange
• Mechanicsville Local
• Goochland Gazette
• Bristol Herald Courier
• Culpeper Star-Exponent
• The (Charlottesville) Daily Progress
• Danville Register & Bee
• Nelson County Times
• The News & Advance (Lynchburg)
• The (Waynesboro) News Virginian
• News & Messenger (Manassas) (defunct)
• Richlands News-Press/Clinch Valley News
• The Richmond News Leader (defunct)
• Smyth News and Messenger (Marion)
• [http://www.swvatoday.com The Wytheville Enterprise]
• Washington County News (Abingdon)
• Greene County Record
• Madison County Eagle
• Orange County Review

• Stations are arranged in alphabetical order by state and city of license.
• Two boldface asterisks appearing following a station's call letters (**) indicate a station built and signed on by Media General.

{{notelist|notes={{efn|name=3rdParty|Owned by a third party and operated by Media General.}}}}

{{notelist-ua}}

• Atlee Park
• Blockdot
• Boxerjam Media
• BiteSizeTV
• Hollywood Today Live, a daily syndicated entertainment news program distributed by Media General stations, along with Fox Television Stations under a traditional syndication arrangement.
• LIN Digital

{{Reflist}}

{{NXST TV|state=collapsed}}

Category:Companies formerly listed on the New York Stock Exchange

Category:Defunct broadcasting companies of the United States

Category:Companies based in Richmond, Virginia

Category:Companies based in Tampa, Florida

Category:Mass media companies established in 1940

Category:Mass media companies disestablished in 2017

Category:Nexstar Media Group

Category:2017 mergers and acquisitions