|By Marketwired .||
|August 20, 2014 11:27 AM EDT||
NEW YORK, NY -- (Marketwired) -- 08/20/14 -- Hearst Corporation today announced it has agreed to acquire Birmingham, Ala., NBC affiliate WVTM-TV, Channel 13, from Media General, Inc. The announcement was made by Steven R. Swartz, president and CEO, Hearst Corporation and Jordan Wertlieb, president, Hearst Television Inc.
Birmingham is the 44th largest television market. The acquisition would increase Hearst Television's audience reach of U.S. TV households to nearly 19 percent, and the reach of its NBC-affiliated stations to nearly 8 percent, across 11 markets.
In conjunction with the acquisition of WVTM, Hearst Corporation also announced it will acquire Savannah, Ga., ABC affiliate WJCL-TV, from LIN Media LLC. Savannah is the 92nd largest television market.
"Hearst Television is a leader in news, innovation and community service and we look forward to welcoming our new colleagues into our family of award-winning stations," Swartz said.
"This acquisition fits perfectly with Hearst Television's portfolio of Southeast television stations," Wertlieb said. "We continue to evaluate strategic opportunities to strengthen our station group by adding stations that serve their communities with news and local programming in growth markets."
Terms were not disclosed. The transactions are subject to requisite regulatory approvals and the completion of the Media General/LIN Media merger.
About Hearst Television
Hearst Television (www.hearsttelevision.com), a national multimedia company, owns and operates 29 local television stations and two local radio stations, serving 30 U.S. cities and reaching approximately 18 percent of U.S. television households. The TV stations broadcast 60 video channels, featuring local and national news, weather, information, sports and entertainment programming and local community service-oriented programs. The stations also host and operate digital online and mobile platforms that extend the company's brands and content to local, national and international audiences. Hearst Television is recognized as one of the industry's premier companies and has been honored with numerous awards for distinguished journalism, industry innovation and community service. Hearst Television is a wholly owned subsidiary of Hearst Corporation.
About Hearst Corporation
Hearst Corporation (www.hearst.com) is one of the nation's largest diversified media and information companies. Its major interests include ownership of 15 daily and 34 weekly newspapers, including the Houston Chronicle, San Francisco Chronicle, San Antonio Express-News and Albany Times Union; hundreds of magazines around the world, including Good Housekeeping, Cosmopolitan, ELLE and O, The Oprah Magazine; 29 television stations, which reach a combined 18 percent of U.S. viewers; ownership in leading cable networks, including Lifetime, A&E, HISTORY and ESPN; significant holdings in automotive, electronic and medical/pharmaceutical business information companies; a 50 percent stake in global ratings agency Fitch Group; Internet and marketing services businesses; television production; newspaper features distribution; and real estate. Follow us on Twitter @HearstCorp and subscribe to Hearstlink.
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