Media General, Inc. closed on its business combination with New Young Broadcasting Holding Co., Inc. on Tuesday.
"All of us at Media General are extremely excited to complete our business combination with Young Broadcasting. We anticipate a quick and smooth integration of two companies with similar cultures and values. We are ready to capitalize immediately on our new, combined strength," said George L. Mahoney, president and chief executive officer of Media General.
Media General will continue to be traded on the New York Stock Exchange under its existing symbol MEG. The merged company will retain the Media General name and will remain headquartered in Richmond, VA.