Media General Planning to Shed Newspapers

Media General is planning for a post-newspaper business model, Richard Craver writes for the Winston-Salem Journal. The media giant—andDaily Progress owner—has made it known that all of their newspapers are for sale, and a recent regulatory filing forecasts revenues premised on the assumption that they’ll strip the company down to its television stations and electronic media components. Media General claims that multiple parties have expressed interest in purchasing their newspapers. They’ve said that they’re interested in selling all of the properties off together, or individually, meaning that it’s possible that another big media company could take ownership of the Progress, but it’s also within the realm of possibility that somebody local could buy it.

Media General purchased the Daily Progress from the Worrell family in 1995, along with the rest of the Charlottesville-area family’s Virginia newspaper properties.

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