RICHMOND, Va.--(BUSINESS WIRE)--
Media General, Inc. (the “Company”) (NYSE:MEG) announced today that
certain of its stockholders have agreed to sell 4,213,433 shares of the
Company’s voting common stock in a registered underwritten secondary
public offering at a price of $15.50 per share. The selling stockholders
also granted the underwriters a 30-day option to purchase up to an
additional 632,014 shares of voting common stock from the selling
stockholders. The Company will not receive any of the proceeds of this
offering. The offering is expected to close on May 7, 2014, subject to
customary closing conditions.
Wells Fargo Securities acted as the lead book-running manager and
representative of the underwriters for the offering. RBC Capital Markets
and UBS Investment Bank acted as book-running managers for the offering.
Wedbush Securities, The Benchmark Company and SunTrust Robinson Humphrey
acted as co-managers for the offering.
An automatic shelf registration statement relating to these securities
was filed on January 29, 2014 with the Securities and Exchange
Commission (the SEC) and became effective upon such filing. The offering
was made only by means of a prospectus and related prospectus
supplement, copies of which may be obtained from Wells Fargo Securities,
LLC, Attn: Equity Syndicate Department, 375 Park Avenue, New York, NY
10152 (or 1-800-326-5897 or firstname.lastname@example.org),
RBC Capital Markets, LLC, Attn: Prospectus Department, 200 Vesey Street,
8th Floor, New York, NY 10281 (or 1-877-822-4089) or UBS Investment
Bank, Attn: Prospectus Department, 299 Park Avenue, New York, NY 10171
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any state or jurisdiction.
About Media General, Inc.
Media General, Inc. is a leading local television broadcasting and
digital media company, providing top-rated news, information and
entertainment in strong markets across the U.S. The company owns or
operates 31 network-affiliated broadcast television stations and their
associated digital media and mobile platforms, in 28 markets. These
stations reach 16.5 million or 14% of U.S. TV households. Sixteen of the
31 stations are located in the top 75 designated market areas. In
November 2013, Media General and Young Broadcasting merged, combining
Media General’s 18 stations and Young’s 13 stations.
Media General, Inc.
Lou Anne J. Nabhan
Source: Media General, Inc.