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Hearst Corp. is making a second attempt to acquire the 18 percent stake in Hearst-Argyle Television it does not own. On Wednesday (March 25), the company announced a tender offer of $4.00 per share, representing a premium of 91 percent over the closing share price as of March 24 and valued at about $375 million.
If the offer is accepted by Hearst-Argyle’s shareholders, the TV group, which owns 27 TV stations, will become a wholly owned subsidiary of the Hearst Corp.
Hearst’s
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