Media General
 |
|
| Public | |
| Traded as | NYSE: MEG |
| Industry | Broadcast and Digital |
| Fate | Merged with Nexstar |
| Predecessor |
Park Communications Spartan Communications Young Broadcasting LIN Media |
| Successor | Nexstar Media Group |
| Founded | 1969 |
| Headquarters |
Richmond, Virginia New York, New York Austin, Texas |
|
Key people
|
Warren Buffett (Financier) Mario Gabelli (Financier) J. Stewart Bryan III (Chairman) Vincent L. Sadusky (President and CEO) |
| Products |
Television Internet Newspaper |
| Revenue | $1.305 B USD (2015) |
Media General was an American media company based in Richmond, Virginia. The company's origins can be traced back to 1887 when Richmond attorney Joseph Bryan acquired The Richmond Daily Times, which later became The Richmond Times-Dispatch. Joseph Bryan's son, John Stewart Bryan succeeded his father as owner and publisher of the Times-Dispatch, which merged with The Richmond News Leader in 1940 to form Richmond Newspapers, Inc.
After John Stewart Bryan's death in 1944, his son, D. Tennant Bryan led the company into a period of expansion into television, changing the company's name to Media General in 1969. Media General, Inc. began trading on the American Stock Exchange in 1970.
In 1990, J. Stewart Bryan III, great-grandson of Joseph Bryan, became chairman, president and chief executive officer of Media General. The fourth-generation Bryan oversaw the company's expansion into digital media and the sale of Media General's newspaper division to Berkshire Hathaway in 2012. J. Stewart Bryan III remained chairman of Media General until his death on January 23, 2016.
In 2013 and 2014, Media General expanded significantly through mergers with Young Broadcasting and LIN Media. After the latter merger, LIN Media CEO Vincent L. Sadusky became Chief Executive Officer of Media General while former Young Broadcasting CEO Deborah A. McDermott led station operations as Chief Operating Officer. Long-time Media General CFO James F. Woodward remained as Chief Financial Officer until the company's dissolution in 2017.
On January 11, 2017, the FCC approved the sale of Media General to Nexstar Broadcasting Group for $4.6 billion.
The conglomeration of newspapers was founded in 1940 when owners of Richmond, Virginia's two newspapers, the Times-Dispatch and News Leader, merged them to form Richmond Newspapers, Inc. In 1969, as the company's media properties grew and diversified, it was renamed Media General.
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Wikipedia