Friday, November 28th-5.6°C
22246
23371

Media General to acquire LIN Media in deal worth about $1.6B in cash and stock

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 per cent premium over LIN's Thursday closing stock price. The companies say LIN shareholders will own about 36 per cent of the combined company.

The deal also includes about $968 million in debt.

LIN Media LLC shares are up 31 per cent in premarket trading, while Media General Inc. shares are up 13 per cent.

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.

The Canadian Press


Read more Business News

23967


Recent Trending




Today's Market
S&P TSX14744.70-177.74
S&P CDNX741.87-13.53
DJIA17828.240.49
Nasdaq4791.63+4.312
S&P 5002067.56-5.27
CDN Dollar0.8756-0.0004
Gold1175.20-21.40
Oil66.15-7.54
Lumber329.40+1.40
Natural Gas4.295+0.144

 
Okanagan Companies
Pacific Safety0.145-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.27-0.07
Cantex0.04-0.005
Anavex Life Sciences0.1998+0.0288
Metalex Ventures0.06+0.02
Russel Metals29.91-0.79
Copper Mountain Mining1.94-0.18
Colorado Resources0.125-0.005
ReliaBrand Inc0.0134-0.0001
Sunrise Resources Ltd0.05+0.005
Mission Ready Services0.325+0.005

 
24130


24244

FEATURED Property
2044781#305 135 Ziprick Road, Kelowna,
2 bedrooms 2 baths
$245,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Don't stop dreaming!

On Wednesday evening I drove through the Bow Valley in Alberta. It is my old home town... the first place Jackie and I moved to in 1988 when we emigrated. We ended up setting up home there and living...


Second marriage issues

It is not unusual that one or both of the parties planning to marry are approaching marriage for the second time. There are pluses and minuses to this new situation. On the plus side, individuals ente...


The last great Canadian tax shelter

A guide to how flow-through fund limited partnerships can mightily aid your tax planning!The end of the year will raise concerns among many professionals, self-employed persons, business owners and ev...

_



24220

24231


Member of BC Press Council


24018