Hearst to Buy Out Remainder of H-A TV Shares

Hearst Corp., owner of newspapers, magazines and cable networks, announced Tuesday (Jan. 3) that it will go forward with its purchase of the outstanding shares of Hearst-Argyle Television that it does not own.

The tender offer expired at 5 p.m. on Tuesday, June 2.

After Hearst completes the purchase of the shares, Hearst-Argyle Television, owner and operator of 29 TV stations and two radio stations, will be merged into Hearst Corp. and operated as a wholly owned subsidiary under the new name, Hearst Television Inc.

Hearst expects to complete the merger within the next several business days.