Media General To Buy LIN In Deal Worth $1.6B - WSPA.com

Media General To Buy LIN In Deal Worth $1.6B

Posted: Updated:
The combined company would own and operate or service a combined 74 stations across 46 markets. The combined company would own and operate or service a combined 74 stations across 46 markets.
RICHMOND, Va. -
Media General is buying fellow TV broadcaster LIN Media in a deal worth about $1.6 billion in cash and stock.
The combined company would own and operate or service a combined 74 stations across 46 markets.
The companies say the deal is worth about $27.82 per share and represents an 87 percent premium over LIN's Thursday closing stock price. The companies say LIN shareholders will own about 36 percent of the combined company.
The deal also includes about $968 million in debt.
LIN Media LLC shares are up 31 percent in premarket trading, while Media General Inc. shares are up 13 percent.
Under the agreement, LIN shareholders can receive either $27.82 in cash or 1.5762 shares of stock in the combined company for each of their LIN shares.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Media General is the parent company of WSPA-TV and WYCW-TV

  • Most Viewed Stories on WSPA.com

  • Most Popular StoriesMost Popular StoriesMore>>

  • August Mugshots

    August Mugshots

    Monday, August 11 2014 4:01 PM EDT2014-08-11 20:01:35 GMT
    August arrests in Upstate South Carolina and western North Carolina.
    August arrests in Upstate South Carolina and western North Carolina.
  • MUGS: 15 Children Removed From Woodruff Home, Adults Arrested

    MUGS: 15 Children Removed From Woodruff Home, Adults Arrested

    Wednesday, August 27 2014 6:16 PM EDT2014-08-27 22:16:58 GMT

    Investigators say they found the trailer surrounded by piles of clothes and trash, a swimming pool with green water, animal feces and roaches on the floor of the home and unsecured guns and medicine bottles.

    Investigators say they found the trailer surrounded by piles of clothes and trash, a swimming pool with green water, animal feces and roaches on the floor of the home and unsecured guns and medicine bottles.

  • Clemson student suddenly dies from infection

    Clemson student suddenly dies from infection

    Wednesday, August 27 2014 8:38 AM EDT2014-08-27 12:38:27 GMT
    Virginia GilliamVirginia Gilliam
    A Mount Pleasant family is grieving the loss of their 18-year-old daughter and sister after she dies suddenly while away at school in the up state. Clemson freshman Virginia Gilliam died on August 24 after what started out as a urinary tract infection."Anybody that knew Virginia, knew she saw the world through a child's eyes. Again, I knew that, my family knew that and I'm not a big social media guy but since then I've just been seeing all this out pouring," Herb Gilliam. Social Media he says...
    A Mount Pleasant family is grieving the loss of their 18-year-old daughter and sister after she dies suddenly while away at school in the up state. Clemson freshman Virginia Gilliam died on August 24 after what started out as a urinary tract infection."Anybody that knew Virginia, knew she saw the world through a child's eyes. Again, I knew that, my family knew that and I'm not a big social media guy but since then I've just been seeing all this out pouring," Herb Gilliam. Social Media he says...
Powered by WorldNow

250 International Dr.
Spartanburg, S.C. 29303

Telephone: 864.576.7777
Fax: 864.587.5430
Email: webmaster@wspa.com

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.