Poynter. » Media General

Warren Buffett’s big payday, and other notes on Media General’s merger with Young

Rick Edmonds — Thu, 13 Jun 2013 14:31:28 +0000

Few paid much attention to the blandly worded announcement a week ago of a merger between Media General and New Young Broadcasting. That was no surprise — an agreement between two midsize local broadcasting companies isn’t nearly as big a … Read more

Media General to merge with New Young Broadcasting

Andrew Beaujon — Thu, 06 Jun 2013 17:01:00 +0000

Richmond Times-Dispatch | Bloomberg News

Media General and the New Young Broadcasting company of Nashville, Tenn., will merge, the Richmond Times-Dispatch reports.

The new company, which will be called Media General, will own 30 television stations. It will be … Read more

Retiring Media General CEO was ‘always attempting to look to the next mountaintop’

Andrew Beaujon — Mon, 17 Dec 2012 17:41:30 +0000

Richmond BizSense
In an exit interview with Michael Schwartz, outgoing Media General CEO Marshall Morton says he’ll have no difficulty “unplugging” — ” I was always attempting to look to the next mountaintop and then decide what pathway would be … Read more

Local advertising grows at Media General, 3rd quarter earnings report shows

Andrew Beaujon — Wed, 17 Oct 2012 13:02:33 +0000

Media General
Media General reported strong revenue from automotive, political and Olympics advertising in the third quarter of 2012, but interest on the company’s debt and losses from what remained of its newspaper division drove it to a loss of … Read more

Tampa Tribune sold to investment firm

Andrew Beaujon — Mon, 08 Oct 2012 14:09:13 +0000

The Tampa Tribune | Tampa Bay Times | MarketWatch
Media General sold The Tampa Tribune to Revolution Capital Group, the companies announced Monday. The sales price was $9.5 million.

“It’s a bittersweet day for Media General to complete the … Read more

Media General President & CEO Morton to retire

Andrew Beaujon — Wed, 22 Aug 2012 13:20:14 +0000

Marshall N. Morton will step down as CEO of Media General at the end of 2012, the company announced Wednesday. George L. Mahoney will replace him. Mahoney, the company’s release says, “has been responsible for Media General’s digital media … Read more

Media General lays off 75 employees

Andrew Beaujon — Tue, 31 Jul 2012 16:20:57 +0000

Jim Romenesko
Media General President and CEO Marshall Morton tells staffers the reductions, announced Tuesday, are because “the resources that were necessary to support our larger organization are not justifiable in our smaller, more focused company.”

When we sold
… Read more

Media General reports income increase, net loss in second quarter

Andrew Beaujon — Wed, 18 Jul 2012 14:26:00 +0000

Media General
Operating income was up 164 percent at Media General in its second quarter, the company announced today. It attributed the rise to political advertising and retransmission fees, which were up 80 percent. On its balance sheet, the company … Read more

2011 busiest year for newspaper ownership changes since 2007

Steve Myers — Wed, 27 Jun 2012 16:39:01 +0000

Project for Excellence in Journalism | The Wall Street Journal
The last 18 months have been “a period of intense change in U.S. newspaper ownership,” reports PEJ in the summary for its report “Who Owns the News Media.” … Read more

Media General execs realized in 2011 newspaper decline wasn’t cyclical

Steve Myers — Tue, 29 May 2012 15:43:58 +0000

Richmond BizSense
Media General President and CEO Marshall Morton tells Michael Schwartz that the company didn’t realize until 2011 that its newspaper revenue declines were not simply due to the recession:

“Over the past five years, our first thought
… Read more