Media General to Divest Its One-Third Ownership Stake in SP Newsprint Co. and Use Proceeds for Debt Reduction
Media General, Inc. (NYSE:MEG), a one-third partner of SP Newsprint Co. (“SP”), along with the other two equal partners, Cox Enterprises, Inc. and The McClatchy Company, has entered into an agreement to sell its ownership stake in SP to White Birch Paper Company, as announced today by SP.