Media General Announces Pricing Of Secondary Offering Of 6.80 Mln Shares

(RTTNews) - Media General Inc. (MEG) announced that one of its stockholders has agreed to sell 6.80 million shares of the Company's voting common stock in a registered underwritten secondary public offering at a price of $16.00 per share.

The selling stockholder also granted the underwriters a 30-day option to purchase up to an additional 1.02 million shares of voting common stock from the selling stockholder.

The company said it will not receive any of the proceeds of this offering. The offering is expected to close on April 7, 2015, subject to customary closing conditions.