General Media News

Media General, The Times-Dispatch's parent company, needed two things: to sell its newspapers and to refinance hundreds of millions of dollars in debt with a looming due date.

Warren Buffett, whose Berkshire Hathaway Inc. struck a deal this month to acquire 63 newspapers, says he may buy more publications as the industry rethinks whether to offer free content on the Internet.

Last week Media General came up with a very favorable announcement whereby it reached an agreement to sell its newspaper division, excluding the Tampa Tribune , to Warren Buffett's BH Media Group for $142MM. In addition, Buffett would also provide MEG with a new Term Loan and revolver in exchange for roughly 20% of additional equity.

Media General Inc. said in a regulatory filing Thursday that it has completed a credit agreement with BH Finance LLC, an affiliate of Berkshire Hathaway.

Mega-investor Warren Buffett has seen the future, and it's written on newsprint.

Warren Buffett said he does not use Berkshire's resources to speak on behalf of the company's 600,000-plus shareholders.

A contract dispute between Cox Communications and WSLS-TV means subscribers to the cable company could lose the ability to watch the local NBC affiliate after May 31.

The hugely successful event draws some 65,000 visitors of all types, proving that when cute lil' doggies are involved, even hipsters are somewhat tolerable.

Crain's Chicago Business The Tribune Company is preparing to exit bankruptcy , and it's planning to create eight companies, one for each of its large English-language dailies , Lynne Marek reports.

If Warren Buffett is the Oracle of Omaha, then Ted Weschler is poised to become the Scion of C'ville. A founding donor of digital news nonprofit Charlottesville Tomorrow and a partner in Charlottesville Publishing Group, which owns C-VILLE Weekly and The Hook, Weschler's media shadow now falls on The Daily Progress as well.

Warren Buffett doesn't buy Google. Last week, he didn't buy Facebook, the social-media phenomenon that started trading Friday on the Nasdaq, ending the day with a market capitalization of about $105 billion.

In March, Chris Hughes paid around $5 million for a majority share of The New Republic.

Ratings Service may raise the credit rating of Media General Inc., the parent company of the Tampa Tribune and WFLA-TV News Channel 8. S&P on Friday placed the CCC+ rating of the Richmond, Va.-based company on CreditWatch with positive implications, based on the agreement by Media General to sell most of its newspaper assets, with the exception of ... (more)

I was in the press box at Berkshire Hathaway's annual meeting three years ago when CEO Warren Buffett uttered words that caused many assembled reporters concern.

Tim McManus has been named chief executive officer of CJW Medical Center's Chippenham and Johnston-Willis hospitals, HCA Virginia said.

The Dow Jones industrial average has been in a slump over the past two weeks as traders saw an escalating risk that Greece could leave the euro, causing more disruptions in markets.

The current cover of Barron's asks increasingly arthritic baby boomers to decide between " Sleep or Sex ." Some choice; the prime memory foam mattress play, Tempur-Pedic , endured a day to forget and slid 6.12%. Its squishy products may produce a baby bust but ahead of today's box office opening of What to Expect When You're Expecting , Wal-Mart - ... (more)

DAVID CRIGGER/BRISTOL HERALD COURIER - Doug Hiemstra, President of World Media Enterprises, talks about the pending acquisition of the Bristol Herald Courier Friday morning in Bristol, Va.

Overview -- U.S. diversified media company Media General has signed an agreement to sell all of its newspaper assets, with the exception of the Tampa group, for $142 million of cash.

Citizens Property Insurance Corp. could face dire consequences if it fails to involve Florida lawmakers before deciding whether to approve a dramatic rate increase for new policyholders, the state-backed firm's board president warned Thursday.