Tuesday 09. October 2012
Media General, Inc. Has Sold The Tampa Tribune to Tampa Media Group, Inc.
Media General, Inc. (NYSE: MEG), a local broadcast television and digital media company, announced today that it has sold The Tampa Tribune and its associated print and digital products to Tampa Media Group, Inc., a new company formed by Revolution Capital Group. The sale closed today. The sale price was $9.5 million, subject to adjustments for working capital and other items, yielding net proceeds before expenses of approximately $2 million.