Gabelli Downgrades LIN Media (LIN) to Hold
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Wedbush Downgrades LIN Media (LIN) to Neutral
March 24, 2014 8:11 AM EDTWedbush downgraded LIN Media (NYSE: LIN) from Outperform to Neutral with a price target of $28.00 (from $32.00).
Analyst James Dix said, "On Friday morning, LIN announced a merger with Media General (MEG-NR), in which LIN shareholders would have the option to receive $27.82 in... More
Media General (MEG) to Acquire LIN Media (LIN) in $1.6B Deal
March 21, 2014 7:44 AM EDTMedia General, Inc. (NYSE: MEG) and LIN Media LLC (NYSE: LIN) announced a definitive merger agreement that will create the second largest pure-play television broadcasting company in the U.S. Under the terms of the agreement, and based on Media Generals trailing 20-day volume weighted average price on March 19, 2014, the shareholders of LIN Media will receive aggregate consideration valued at $1.6 billion in a combination of stock and cash, or approximately $27.82 per share if prorated ratably, which represents a 28% premium to LIN Medias trailing 20-day volume weighted... More