Advertisement
YOU ARE HERE: LAT HomeCollections

COMPANY TOWN | Deals

July 23, 1996|Washington Post

TV Stations, Papers Sold: Media General Inc., owner of a Virginia cable system, has agreed to pay $710 million for 10 TV stations and 110 community newspapers that will expand its presence in the Southeast, the Richmond, Va.-based company said Monday. The purchase from Park Acquisitions Inc. would more than double the percentage of Southeastern homes with TV sets that the company reaches, bringing the figure to 22%. The firm already owns three stations in Tampa and Jacksonville, Fla., and Charleston, S.C. Papers under Media General's control would include the Journal Messenger (Va.) and the News-Virginian. Media General's stock fell $1.625 to close at $33.75.

Advertisement
Los Angeles Times Articles
|
|
|