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Stock Market & Financial Investment News

News Breaks
August 5, 2014
07:33 EDTMEGMedia General sees additional $5M of expected operating savings
“Today we’re announcing an additional $5 million of expected operating savings as part of our ongoing efforts to manage costs for 2015,” said George L. Mahoney, president and CEO of Media General. “When we originally announced the Young transaction, we said we’d deliver $15 million of operating synergies within 12-15 months. In April, we added $10 million of synergies. We continue to benefit from our increased scale. Our total operating synergies related to the Young merger for 2015 now exceed $30 million, more than double our original estimate. Today’s announced savings are mainly for reduced health care costs, relative to what we’d anticipated for 2015, and are principally from more favorable negotiated rates with providers based on our increased scale. This $5 million figure also includes additional synergies at the corporate and station levels, mostly from newly renegotiated contracts and reengineering,” said Mr. Mahoney.
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September 15, 2014
10:39 EDTMEGMedia General renewal with CBS a positive, says Wells Fargo
Wells Fargo views Media General's (MEG) announcement that it has renewed its affiliation agreements with all 12 of its CBS (CBS) stations as a positive that, along with LIN Media's (LIN) prior renewal with CBS, should end investor concerns about additional ''lost affiliations'' for the two. The firm maintains its Outperform rating on Media General.
09:03 EDTMEGCBS and Media General sign deal to renew all affiliation agreements
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September 10, 2014
09:36 EDTMEGMedia General renews ABC affiliation agreement for WJBF-TV
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