Media General, LIN Ink $1.6B Merger To Form Broadcast Giant

Law360, New York (March 21, 2014, 2:03 PM EDT) -- Media General Inc. has agreed to purchase LIN Media LLC for about $1.6 billion, the companies said Friday, in a deal the two sides said will create the second-largest pure-play television broadcasting company in the U.S.

The cash and stock deal — which is expected to close in early 2015 — has already been unanimously approved by both companies' boards of directors. It will see LIN shareholders receive about $27.82 per share, which represents a 28 percent premium to LIN's average stock price in the 20...
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