Media General Sells Tampa Tribune

Chris Ariens — Mon, 08 Oct 2012 09:51:10 +0000

Media General is now out of the newspaper business, having closed a deal this morning to sell the Tampa Tribune to a Los Angeles-based private equity group. Media General will keep ownership of NBC affiliate WFLA but the newspaper will be moving out of the “News Center” facility completed in 2000 to house the newspaper, TV station and digital properties.

While WFLA employees will remain at 200 S. Parker St., (at left in picture) Tribune employees will move to their old headquarters at 202 S. Parker (at right). Both entities will continue their news partnership. In fact, staffers from each will likely attend daily news meetings.

The buyer, Revolution Capital Group, paid $9.5 million for the Tribune.

In May, Warren Buffett‘s Berkshire Hathaway group bought 63 Media General newspapers for $142 million.

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Aiming to Focus on TV, Media General Sells Newspapers to Berkshire Hathaway

Andrew Gauthier — Thu, 17 May 2012 10:30:50 +0000

Media General is selling off its struggling newspapers.

The company today announced a deal with Berkshire Hathaway for the purchase of all of its newspapers, with the exception of its Tampa group, which includes The Tampa Tribune, for $142 million in cash. Media General is currently in discussions with other prospective buyers about its Tampa print assets.

Under a separate agreement, Berkshire Hathaway will provide Media General with a $400 million term loan, which will be used to pay off bank debt, and a $45 million revolving line of credit. continued…

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Media General Sells Tampa Tribune

Aiming to Focus on TV, Media General Sells Newspapers to Berkshire Hathaway