[March 30, 2015] |
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Media General, Inc. Announces Secondary Public Offering of 6,800,000 Shares of Voting Common Stock by Selling Stockholder
Media General, Inc. (the "Company") (NYSE:MEG) announced today that one
of its stockholders intends to offer for sale 6,800,000 shares of the
Company's voting common stock in a registered underwritten secondary
public offering. The selling stockholder also expects to grant the
underwriters a 30-day option to purchase up to an additional 1,020,000
shares of voting common stock from the selling stockholder. The Company
will not receive any of the proceeds of this offering.
RBC Capital Markets is acting as the book running manager of the
offering. Evercore ISI (News - Alert) is also acting as a book runner.
An automatic shelf registration statement relating to these securities
was filed on January 30, 2014 with the Securities and Exchange
Commission (the SEC (News - Alert)) and became effective upon such filing and was
amended by an automatically effective post-effective amendment on March
30, 2015. The offering will be made only by means of a prospectus and
related prospectus supplement, copies of which may be obtained, when
available, from RBC Capital Markets, LLC, Attn: Prospectus Department,
200 Vesey Street, 8th Floor, New York, NY 10281 (or 1-877-822-4089) or
Evercore Group L.L.C., Attn: Equity Capital Markets, 55 East 52nd
Street, 36th Floor, New York, NY 10055 or (212-653-9054).
This press release shall not constitute an offer to sel 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.
Forward-Looking Statements
The information discussed in this press release includes forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934. The Company
based these forward-looking statements on its current assumptions,
knowledge, estimates and projections about factors that could affect its
future operations. Although the Company believes that its assumptions
made in connection with the forward-looking statements are reasonable,
no assurances can be given that those assumptions and expectations will
prove to be correct. These forward-looking statements are subject to
various risks, uncertainties and assumptions which may cause these
expectations and assumptions not to occur or to differ materially from
those outcomes projected in the forward-looking statements. Certain such
risks and uncertainties are discussed in the Company's Annual Report on
Form 10-K and other filings made with the SEC. The forward-looking
statements included in this release are made only as of the date of this
release and the Company undertakes no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, unless otherwise required to by
applicable law.
About Media General
Media General is one of the nation's largest cross-screen, multimedia
companies that operates or services 71 television stations in 48 markets
along with the industry's leading digital media business. We offer
consumers and advertisers premium quality entertainment and information,
content and distribution on every screen. Our robust portfolio of
broadcast, digital and mobile products informs and engages 23% of U.S.
TV households and 46% of the U.S. Internet audience.
Media General has the industry's largest and most diverse digital media
business with a growing portfolio that includes LIN Digital, LIN Mobile,
Federated Media, HYFN, Dedicated Media and BiteSizeTV. With unmatched
local-to-national reach and integrated marketing solutions, Media
General is a one-stop-shop for agencies and brands that want to
effectively and efficiently reach their target audiences across all
screens.
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