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August 5, 2014
07:33 EDTMEG, LIN, SBGIMedia General reports Q2 EPS 8c, consensus 16c
Reports Q2 revenue $154.1M, consensus $153.33M. On March 21, Media General (MEG) announced plans to merge with LIN Media (LIN) in a transaction that will more than double the size of Media General and create the second-largest pure-play local television company in the United States. The merger with LIN Media is expected to be immediately accretive on a free cash flow per share basis and should be completed in early 2015, subject to regulatory approvals, the approval of Media General and LIN Media shareholders and other customary closing conditions. Additionally, on June 23,Media General announced a definitive agreement with Sinclair Broadcast Group (SBGI) to purchase WHTM, an ABC affiliate in Harrisonburg, PA, a transaction that is subject to regulatory approval and other customary closing conditions.
News For MEG;LIN;SBGI From The Last 14 Days
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September 29, 2014
13:33 EDTSBGISinclair Broadcast enters into long-term affiliation agreements with ABC
Sinclair Broadcast (SBGI) announced that it has entered into long-term agreements with Disney's (DIS) American Broadcasting Company for the renewal of the ABC affiliations in 13 Sinclair markets that come up for renewal during 2014 and 2015. Three of the new agreements will expire on August 31, 2019 and the other 11 will expire on August 31, 2020. The markets being renewed are listed below and include six of Sinclair's ten biggest ABC markets, including five of the top six ABC markets. The company's remaining ABC affiliation agreements do not expire for several years. The company said, "We are pleased to have reached this agreement with ABC to renew these affiliation agreements for 5-year terms including a number of agreements that were not set to expire until 2015."
11:48 EDTSBGISinclair Broadcast syndication agreements a positive, says Wells Fargo
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10:01 EDTSBGISinclair Broadcast unit enters syndication agreements for ASN initiative
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