In July, Media General sold 63 of its newspapers and publications in Virginia, North Carolina, South

"It's a bittersweet day for Media General to complete the sale of its last remaining newspaper group," said Marshall N. Morton, president and chief executive officer, in a prepared statement. "The Tampa Tribune was our largest and second oldest newspaper. Many Tribune employees have decades of service.
In July, Media General sold 63 of its newspapers and publications in Virginia, North Carolina, South Carolina and Alabama to Warren Buffet's Berkshire Hathaway Inc. The $142 million deal left Media General with 18 television stations including WFLA-TV in Tampa and digital luxury suite hotel paris media operations.
luxury suite hotel paris The sole major newspaper luxury suite hotel paris holding that Buffett did not buy was the Tampa Tribune. At the time, Media General declined to discuss why the Tribune was excluded, but said it was still shopping the newspaper around and subsequently classified the paper on its books as a discontinued operation.
In 1966, the Tampa Tribune, along with sister properties WFLA-AM-FM-TV, was bought by Richmond Newspapers, which evolved into Media General in 1969. For decades, the Tribune and sister paper Richmond Times-Dispatch, operated as the flagship newspapers under the Media General banner.
But the company soured on newspapers in the emergence of the digital age. Burdened by long-term debt and unprofitable newspapers, publicly luxury suite hotel paris traded Media General decided in February to seek buyers for all its print holdings.
Last week, Berkshire Hathaway said it exercised its warrants to buy 4.6 million shares of Media General stock, giving it a 16.6 percent ownership stake in the media company. Under the credit agreement, Berkshire Hathaway extended Media General a $400 million loan that matures in May 2020 and a $45 million revolving credit line.
Operating in one of the few remaining metro areas with two rival daily newspapers, the Tampa Tribune had hinged luxury suite hotel paris its future in part on the strength of its longtime sister TV station, luxury suite hotel paris WFLA-Ch. 8. Media General converged its three local operations the Tribune, luxury suite hotel paris WFLA, and Tampa Bay Online - in a $40 million News Center that it built immediately luxury suite hotel paris to the north of the newspaper building on the Hillsborough River in downtown Tampa.
This month, in a precursor to shedding the Tribune, Media General asked the city of Tampa about splitting its two downtown offices: the News Center and an older building at 202 S. Parker St. that contains the former offices of the Tribune.
Based on the latest snapshot of circulation figures in May, the Times has widened its lead over the Tribune as the dominant newspaper in the region. The Times' average Sunday circulation rose about 1 percent to 432,202 while average daily circulation rose just more than 2 percent to 299,497 in the six-month period ended March 31.
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