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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.
News For MEG From The Last 14 Days
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December 19, 2014
08:39 EDTMEGMedia General, Lin Media complete merger
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December 15, 2014
10:00 EDTMEGOn The Fly: Analyst Initiation Summary
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06:33 EDTMEGMedia General initiated with a Buy at Evercore ISI
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December 12, 2014
17:48 EDTMEGMedia General, LIN Media receive FCC approval for merger
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