Media General and LIN Media have announced a definitive merger agreement valued at $2.6 Billion creating the second largest TV broadcast company in the US.
Vincent Sadusky, LIN Media’s president and CEO, will become president and CEO of the new company which will be called Media General.
This is an exciting and historic day for both companies,” said Sadusky. “Together, we will be able to better serve our local communities throughout our significant and diverse geographic footprint and further grow our national digital business. I am honored to lead our new company, deliver important synergies and achieve new levels of success.”
The deal will bring together 74 stations which are either owned or operated by the two companies in 46 markets. Combined, the new company’s stations will reach 23% of US TV households.