Media General plans to merge with LIN media in a $1.6 billion deal that would create the second-largest station group in America,
The deal, which much get the green light from regulators, would give the new company—to be called Media General—74 network-affiliate owned or serviced TV stations in 46 markets,
Reaching 23 percent of U.S. households, the merger would also move Media General ahead of ABC and Hearst in the station group clearance rankings.
LIN chief Vincent Sadusky will lead the combined Media General, which will retain Richmond as its home office.
Read More: Broadcasting & Cable
Brief Take: Media General’s takeover of LIN is just the latest local TV tie-up, as companies try to go after a larger chunk of local ad dollars and the fees from cable companies to carry their signals.
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