Monday, November 11, 2013

Media General To Merge With New Young Broadcasting

Media General Inc. shareholders Thursday approved the Richmond-based broadcasting company’s merger with Nashville, Tenn.-based New Young Broadcasting Holding Co.
The all-stock merger will combine the two businesses, creating a company with 31 television stations in 28 U.S. markets. Media General will gain ownership of WRIC in Richmond as part of the merger.  Media General will keep its headquarters in Richmond.

The company still must receive approval for license transfers from the Federal Communications Commission to complete the merger. Company executives said they expect FCC approval soon.

The company said it will disclose details of the shareholder vote in a regulatory filing after the merger is complete.

Media General currently owns 18 televisions stations, mainly in the Southeast. With the merger, it will own stations in markets such as Lafayette, La., Sioux Falls, S.D., Lansing, Mich., and San Francisco.

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