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Media General (MEG)

- NYSE
  • 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.
    | 4 Comments
  • 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!
  • 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
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  • Mar. 21, 2014, 9:15 AM
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  • 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!
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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.