In a company press release reported on Marketwatch.com, Media General said its dailies and weeklies in the southeastern U.S., except for its Florida holdings, along with Web sites and tablet and mobile apps, are part of the deal. The media outlets will be managed by World Media Enterprises, Inc., a sister company of the Omaha World Herald Co., which also is part of the BH Media Group newspaper stable.
Media General, which has concentrated on its digital and broadcast holdings in recent years, owns 18 network-affiliated television stations and their Web sites. A $400 million term loan and a $45 million revolving line of credit from Berkshire Hathaway to Media General was also finalized in a separate credit agreement, according to the press release.
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