Tue, Apr. 14, 5:36 PM
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
Dec. 16, 2014, 5:42 PM
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%.
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
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
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. 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.
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%.
Mar. 21, 2014, 9:15 AM
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. 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.
Jun. 6, 2013, 12:45 PM
Apr. 24, 2013, 12:44 PM
Dec. 27, 2012, 5:46 PM
Jun. 20, 2012, 1:23 PM
MEG vs. ETF Alternatives
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.
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