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Media General (MEG)

- NYSE
  • Tue, Aug. 11, 11:06 AM
    • Broadcaster Media General (MEG -2.5%) is cementing a move into original content by hiring a head of programming, Tony Optican.
    • Optican has program development/launch experience from MGM, Fox, Syfy, and FremantleMedia.
    • He'll be charged with developing a strong content strategy as well as building out the company's current efforts, including variety show Hollywood Today Live, heading to two-thirds of Media General's markets by mid-September.
    | Tue, Aug. 11, 11:06 AM | Comment!
  • Thu, Aug. 6, 10:42 AM
    • Media General (NYSE:MEG) is reeling, -20%, after its Q2 earnings featured misses on top and bottom lines despite revenue doubling Y/Y.
    • Revenues of $321M (up 108%) included digital revenues of $36M (up 512%). EBITDA of $91M was down 2% but beat an expected $86.9M.
    • Net local revenues were up 9% to $220M. Net national revenues dropped 2% to $53M.
    • Net debt on June 30 was $2.22B; cash and equivalents were $72M.
    • The company's guiding to Q3 net revenues of $316M-$329M, light of a consensus expectation for $333M.
    • Press Release
    | Thu, Aug. 6, 10:42 AM | Comment!
  • Tue, Apr. 14, 5:36 PM
     
    • Top gainers, as of 5:15 p.m.: RSYS +8.6%. BBG +3.8%. MEG +3.4%. PNK +2.9%. CSX +2.8%.
    • Top losers, as of 5:15 p.m.: SYRG -5.5%. GTE -5.5%. COTY -5.1%. BCEI -4.6%. AGX -3.9%.
    | Tue, Apr. 14, 5:36 PM | Comment!
  • Fri, Feb. 27, 4:25 PM
    • After losing just 2.3% yesterday following Q4 earnings, Media General (NYSE:MEG) slipped 6.6% today.
    • Earnings of $0.29/share missed expectations by $0.02 -- and while they swung to a gain from a $5.2M loss in the prior year, the results were driven in large part by political advertising for the midterm elections.
    • The firm has been engaging in a long transition into a more modern TV broadcaster, notably with wrapping a $2.6B merger with LIN Media. This is the first earnings report since the merger closed.
    • The company guided to revenues for Q1 to increase 1%-3%, for total net revenues of $295M-$301M, in line with expectations.
    • Analyst consensus expects the company to earn $0.06/share in Q1.
    • Q4 results; press release
    | Fri, Feb. 27, 4:25 PM | 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%.
    | Dec. 16, 2014, 5:42 PM | 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%.
    | Dec. 15, 2014, 10:00 AM | 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
    | Aug. 11, 2014, 1:45 PM | Comment!
  • 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
    | Jul. 1, 2014, 10:46 AM | 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%.
    | Jun. 30, 2014, 11:03 AM | 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.
    | Jun. 25, 2014, 12:11 PM | 1 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%.
    | May 12, 2014, 1:20 PM | Comment!
  • Mar. 21, 2014, 9:15 AM
    | 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
    | Mar. 21, 2014, 8:00 AM | 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.
    | Mar. 17, 2014, 2:22 PM | Comment!
  • Jun. 6, 2013, 12:45 PM
    Midday top 10 gainers: OSH +29%. SKBI +25%. MEG +23%. RDCM +19%. TRUE +16%. NPTN +13%. CIEN +13%. TRMD +13%. MY +12%. FSGI +11%.
    Midday top 10 Losers: PAY -19%. CBAK -15%. SNTA -14%. CWTR -13%. GIG -12%. ASNA -11%. RST -10%. VRA -10%. FRAN -9%. YOD -9%.
    | Jun. 6, 2013, 12:45 PM | Comment!
  • Apr. 24, 2013, 12:44 PM
    Midday top 10 gainers: RSOL +31%. NOR +27%. BKI +26%. BYD +18%. IRBT +15%. CHCI +14%. RVLT +13%. FXEN +12%. TRQ +12%. LL +12%.
    Midday top 10 losers: VOCS -37%. VLTC -24%. EW -23%. UIS -23%. DV -21%. CCCL -15%. MCOX -14%. MEG -14%. SCON -13%. MACK -13%.
    | Apr. 24, 2013, 12:44 PM | 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.