Seeking Alpha

Media General (MEG)

  • 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!
  • May. 12, 2014, 1:20 PM
    • TV broadcast stocks are outperforming for the day after the sector was tapped by M.D. Sass to soar.
    • The investment firm notes there is a disconnect between the 10% of carriage fee revenue broadcasters haul in compared to the 35% of total viewing they account for across the industry. A normalization of the revenue mix is in the "early inning," according to Sass.
    • A timely initiation by Wells Fargo of Media General at Outperform is also giving a boost.
    • Gainers: E.W. Scripps (SSP+7.6%, Nexstar Broadcasting (NXST+5.7%, Media General (MEG+4.8%, Liberty Interactive (LVNTA+1.9%, Sinclair Broadcast Group (SBGI+1.9%, Gray Television (GTN+1.7%.
    | Comment!
  • May. 1, 2014, 8:20 AM
    • Lin Media (LIN) announces the window-shop period for its merger with Media General (MEG) ended without the company receiving any superior acquisition offers,
    • The merger of the two firms will create the second largest pure-play TV broadcasting entity with 74 total TV stations.
    | Comment!
  • Apr. 28, 2014, 8:20 AM
    | Comment!
  • Mar. 21, 2014, 9:15 AM
    | Comment!
  • Mar. 21, 2014, 8:00 AM
    • The combined company will be the 2nd largest pure-play TV broadcasting company, with 74 network-affiliated owned or serviced TV stations across 46 markets, reaching about 23% of U.S. TV households.
    • LIN Media owners will receive $763M in cash and 49.5M shares of Media General (MEG) - total consideration of about $27.82 per share based on MEG's most recent 20-day average price. Lin closed last night at $14.90.
    • Upon closing, Lin CEO Vincent Sadusky will become CEO of the new company to be named Media General.
    • CC at 10 ET
    • Press release
    | Comment!
  • Mar. 17, 2014, 2:22 PM
    • A dour warning from Wells Fargo on broadcaster stocks is wreaking havoc in the sector.
    • The group is giving up much of the M&A premiums it had built up over the last few months.
    • Decliners: Gray Television (GTN-12.5%, Nexstar Broadcasting (NXST-9.1%,  inclair Broadcast Group (SBGI-7.4%, E.W. Scripps (SSP-5.4%, Entravision Communication (EVC-2.7%, Media General (MEG) -5.0%.
    • The PowerShares Dynamic Media ETF (PBS) is under-performing a bit today due to its exposure to the group.
    | Comment!
  • Feb. 27, 2014, 8:21 AM
    • Media General, Inc. (MEG): Q4 EPS of -$0.07.
    • Revenue of $149.1M. (PR)
    | Comment!
  • Jan. 2, 2014, 12:25 PM
    • Sell-siders scratched their heads when in May 2012 Berkshire Hathaway (BRK.A, BRK.B) agreed to buy 63 newspapers for $142M from Media General (MEG -1.3%), and provide $445M in loans to the company. Was The Oracle's love of newspapers interfering with his business judgement?
    • It turns out Berkshire received 4.65M "penny warrants" as part of the deal which it exercised in September 2012 - the stock's about a 5-bagger since, and Berkshire's 17% stake is worth $105M. Buffett could sell today and recover most of the $142M paid for the newspapers while still owning them.
  • Dec. 18, 2013, 2:27 PM
    • TV station M&A activity soared in 2013 to $10.9B through the first 11 months of the year to quadruple last year's pace.
    • Sinclair Broadcasting (SBGI +1%) was the busiest of the bunch with nine separate TV station acquisition deals, although nearly every large player was active.
    • Related stocks: Belo (BLC), Nexstar Broadcasting (NXST), E.W. Scripps (SSP), Media General (MEG), Gray Television (GTN), Tribune (TRBAA).
    | Comment!
  • Nov. 27, 2013, 10:03 AM
    • Media General (MEG -1.5%) trades down after Gabelli downgrades shares to Hold from Buy.
  • Nov. 8, 2013, 4:56 PM
    • Media General (MEG +4.4%) receives the go ahead from the FCC for its merger with New Young Broadcasting. The transaction is expected to close Tuesday.
    • The FCC also denied Informal Objections filed by Spartan-TV and Dish Network.
    | Comment!
  • Oct. 18, 2013, 1:01 PM
    • Dish Network (DISH +0.3%) files a complaint against Media General (MEG -1%) in which it accuses the company of failing to negotaite in good faith on a lapsed retransmission contract.
    • It appears that Media General might be playing a strategic waiting game with its acquisition by Young Broadcasting expected to be finalized down the road.
    | Comment!
Visit Seeking Alpha's
MEG vs. ETF Alternatives
Company Description
Media General Inc is a provider of news, information and entertainment across 31 network-affiliated television stations, digital media and mobile platforms, serving consumers and advertisers in strong local markets, primarily in the Southeastern US.