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Media General (MEG)

  • Dec. 23, 2014, 8:01 AM
    • Media General (NYSE:MEG) says it landed an affiliation agreement for the CW Network with WISH-TV in Indianapolis.
    • CW shows will begin airing on the network on January 1.
    | Comment!
  • Dec. 16, 2014, 5:42 PM
    • Top gainers, as of 5:15 p.m.: CERS +16.5%. EWM +9.0%. CLNE +4.8%. EPAM +4.8%. IAG +4.4%.
    • Top losers, as of 5:15 p.m.: CLF -8.5%. UWTI -5.7%. NGL -4.7%. MEG -3.0%. ARO -2.7%.
    | Comment!
  • Dec. 15, 2014, 10:00 AM
    • Select broadcast TV stocks are higher after the FCC approves the merger between Media General and LIN Media.
    • Shares of the new combined company will trade under the Media General name and symbol after the deal closes later this month.
    • Some media analysts think further consolidation within the sector is likely.
    • Broadcasters: Media General (NYSE:MEG) +3.7%, LIN Media (NYSE:LIN) +3.0%, Nexstar Broadcasting Group (NASDAQ:NXST) +1.4%, Journal Communications (NYSE:JRN) +1.0%, Liberty Ventures (NASDAQ:LVNTA) +0.6%.
    | Comment!
  • Nov. 6, 2014, 8:05 AM
    • Media General (NYSE:MEG) more than tripled net income in Q3 as the impact of its merger with New Young Broadcating kicked in.
    • The company brought in $21.4M in political revenue, helped by its presence in states with key Senate elections.
    • Total operating costs +4% to $125M.
    • SG&A expenses +5.1 to $39.4M.
    | Comment!
  • Nov. 6, 2014, 7:57 AM
    • Media General (NYSE:MEG): Q3 EPS of $0.15 misses by $0.05.
    • Revenue of $160.22M (+20.8% Y/Y) misses by $4.13M.
    • Press Release
    | Comment!
  • Oct. 6, 2014, 2:23 PM
    • Media General (MEG -2.2%) and LIN Media (LIN -0.1%) announce that their shareholders have approved the merger of the companies.
    • The combined entity will keep the Media General name and be headquartered in Richmond, Virginia.
    | Comment!
  • Sep. 15, 2014, 9:21 AM
    • CBS (NYSE:CBS) announces it renewed all of its affiliate agreements with Media General (NYSE:MEG).
    • The long-term deal covers 12 different markets, in which Media General's CBS affiliate ranks first in ratings for most.
    | 1 Comment
  • Aug. 11, 2014, 1:45 PM
    • There's some asset re-allocation going on in the media sector with a group of newspapers stocks piling on some gains - while select TV broadcaster and digital media stocks head in the other direction.
    • The flurry of merger and spinoff news within the sector has created more pure-play bets and consolidated some firms into larger players.
    • Analysts have noted the extra volatility in the sector has created more buy/sell opportunities than normal on mismatched valuation.
    • Gainers: McClatchy (NYSE:MNI) +3.0%, Lee Enterprises (NYSE:LEE) +3.3%, New Media Investment (NYSE:NEWM) +4.4%.
    • Decliners: E.W. Scripps (NYSE:SSP) -3.6%, Media General (NYSE:MEG) -2.1%, Journal Communication (NYSE:JRN) -3.4%.
    • Related ETF: PBS
    | Comment!
  • Aug. 5, 2014, 7:40 AM
    • Media General (NYSE:MEG): Q2 GAAP EPS of $0.08
    • Revenue of $154.1M (+11.8% Y/Y) beats by $0.77M.
    • Press Release
    | Comment!
  • Jul. 29, 2014, 12:45 PM
    • Newspaper stocks draw some notice after New York Times (NYT -5.5%) and McClatchy (MNI -2.4%) both report a drop in print advertising revenue for Q2 that exceeded expectations.
    • Though print advertising hasn't declined as fast as some skeptics forecast, a sobering statistic for the sector is that adults in the U.S only spend 2% of their media time reading newspapers - although the category still pulls in 10% of all ad dollars.
    • On watch: Gannett (GCI +0.9%), Medua General (MEG), Lee Enterprises (LEE +1%), A.H. Belo (AHC +2.2%), Tribune Publishing (NYSE:TPUB).
    | 1 Comment
  • Jul. 10, 2014, 1:22 PM
    • The Dallas Morning News has shut down its premium website after a nine-month run.
    • The publication is owned by A.H. Belo (AHC -0.7%).
    • What to watch: The conversion of the print model to digital is an important part of the strategy of newspaper owners (MNI, GCI, MEG, NYT). Though early results have been positive for some major newspapers such as The New York Times and The Boston Globe, other papers haven't been able to swing the clout to get subscribers to pay up.
  • Jul. 1, 2014, 10:46 AM
    • Aereo moves straight into lobbying mode after suspending business operations yesterday.
    • CEO Chet Kanojia is out with a letter to clients in which he asks them to contact their Congress reps in order to support cloud-based antenna technology.
    • The death of Aereo is still being baked into prices of broadcaster stocks. Sinclair Broadcasting (SBGI +2.1%), Entravision Communications (EVC +2.7%), Gray Television (GTN +1.9%), CBS (CBS +1.6%), and Media General (MEG +1.5%) are all still on the move post-SCOTUS decision.
    • Aereo vs. broadcasters timeline
    • Related ETF: PBS
    | Comment!
  • Jun. 30, 2014, 11:03 AM
    • TV broadcaster stocks are higher off of momentum built up last week after the Supreme Court's ruling in the Aereo case went well for the sector.
    • The demise of Aereo means billions of dollars in retransmission fees are protected to a larger degree.
    • Advancers: Nexstar Broadcasting (NXST) +3.3%, Sinclair Broadcasting (SBGI) +1.8%, Gray Television (GTN) +2.2%, Media General (MEG) +2.4%.
    | Comment!
  • Jun. 25, 2014, 12:11 PM
    • Sinclair Broadcast (SBGI +14.1%), Media General (MEG +10.4%), E.W. Scripps (SSP +7.9%), Gray Television (GTN +7.5%), Meredith (MDP +4.3%), Gannett (GCI +3.8%), and Nextar (NXST +15.6%) are taking off after the Supreme Court ruled (by a 6-3 vote) Aereo's TV streaming service is illegal.
    • National broadcast network owners are generally showing more moderate gains.
    | 1 Comment
  • Jun. 23, 2014, 11:14 AM
    • Media General (MEG -0.9%) announces it will purchase the ABC affiliate in Harrisburg, Pennsylvania for $83.4M in cash.
    • The station is owned by Allbritton Communication which is being acquired by Sinclar Broadcasting Group (SBGI +0.3%).
    • The sale is part of Sinclair's plan to divest assets in connection with the merger.
    | Comment!
  • May 28, 2014, 3:29 PM
    • Media General (MEG +4.9%) trades higher after Benchmark initiates coverage on the company with a Buy rating.
    • The investment firm has a $21 price target on the broadcasting stock.
    | Comment!
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Company Description
Media General Inc is a provider of news, information and entertainment across network-affiliated television stations, digital media and mobile platforms, serving consumers and advertisers in local markets in the Southeastern United States.