Media General sale

[BrgrKing15]

I hear that Media General is selling a few stations; including ones in Panama City, Lexington, Toccoa (Ga.) and Alexandria.

Anyone know anymore info?

[commanderchaos]

Other than they're "exploring" selling those stations, I haven't heard anything else. It apparently came as a surprise to some of the employees. Wonder if MG needs more cash after buying those four NBC stations last year.

[Hatter]

http://www.nbc12.com/news/business/10885676.html

I hear they may have their eye on buying WWBT in Richmond, which (ironically) is where this article announcing the "exploration" is published.

[Gail sirens]

Huge corporate losses this quarter.
'Tis a business, after all, and the bottom line is what counts.
So the flotsam will be jettisoned.

[markminn]

Originally posted by Hatter:
http://www.nbc12.com/news/business/10885676.html

I hear they may have their eye on buying WWBT in Richmond, which (ironically) is where this article announcing the "exploration" is published.Problem is that they can't buy WWBT unless they sell the Richmond Times-Dispatch. FCC rules prohibit it, for now! It looks like Raycom is going to buy Lincoln Financial's TV stations (including WWBT) therefore owning 2 tv stations in RIchmond for a time (WTVR is currently owned by Raycom). There are political rumors that the FCC will start letting papers own stations in the same cities as a paper they own, if so, Media General will jump on one of the Richmond stations.

[Hatter]

Originally posted by markminn:
Problem is that they can't buy WWBT unless they sell the Richmond Times-Dispatch. FCC rules prohibit it, for now! It looks like Raycom is going to buy Lincoln Financial's TV stations (including WWBT) therefore owning 2 tv stations in RIchmond for a time (WTVR is currently owned by Raycom). There are political rumors that the FCC will start letting papers own stations in the same cities as a paper they own, if so, Media General will jump on one of the Richmond stations.[/QB]

See, that's weird because I heard that Media General is looking to buy Lincoln Financial's stations. Word is they're trying to unload their stations in smaller markets and get into mid-sized/large markets in the Southeast. Then again, I've also heard rumblings of a Raycom/MG merger. I don't know where I heard that... (here probably).

[amp]

MG may try to by the LF stations and hold onto WWBT as long as they can since it seems inevitable that the FCC will let papers and stations co-exist under the same ownership umbrella in the same city.

[ciscoubr]

That wouldn't work in Charleston. WCSC (#1 in market) is owned by LFG. WCBD (#2 but right bedhind WCSC) is owned by MG. I imagine that if this merger happened, they'd sell WCBD.