This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Media General Streamlines Its Market Structure And Operations; Jim Conschafter, John Cottingham Elected Vice Presidents Of Media General

Stocks in this article: MEG

RICHMOND, Va., July 2, 2012 /PRNewswire/ -- Media General (NYSE: MEG) today announced that the company is streamlining its market structure and operations to align with its new focus as a pure-play television broadcaster.  The changes are effective immediately.

The company's current market structure of five geographic regions will be replaced by a new structure of two geographic regions, focused on its 18 network-affiliated television stations. James R. Conschafter and John R. Cottingham were elected corporate vice presidents by the Board of Directors.  Each will have operating responsibility for one of the two new geographic regions. Media General also announced that John A. Schauss, vice president-market operations, is retiring. The company will not fill this role, and the two new positions held by Mr. Conschafter and Mr. Cottingham will report directly to Marshall N. Morton, president and chief executive officer of Media General.

"With our June 25 sale of newspapers, Media General is focusing all of its resources on its broadcast television group.  We are delighted that our two most experienced broadcast executives will lead our television operations.  I thank John Schauss for his many contributions to Media General and wish John and his wife, Joan, all the best in retirement," said Mr. Morton.  "We are committed to increasing broadcast cash flow and EBITDA margins.  One component of margin improvement will be the alignment of our corporate structure with our new business focus.  The streamlining of our market structure and operations is a key first step in that process," he said.

Media General said that the company's other two current market leaders, Marilyn Hammond, president and market leader- North Carolina, and Dan Bradley, president and market leader- Ohio/ Rhode Island, will remain with Media General in key roles that will be announced at a later date.

Mr. Conschafter is responsible for the following markets and stations:North Carolina: Greenville, WNCT-TV; Raleigh, WNCN-TV Ohio: Columbus, WCMH-TV Rhode Island: Providence, WJAR-TV South Carolina: Spartanburg/ Greenville, WSPA-TV and Asheville, NC, WYCW; Florence/Myrtle     Beach, WBTWVirginia: Roanoke, WSLS-TV Tennessee: Johnson City, WJHL-TV

Mr. Cottingham is responsible for the following markets and stations: Alabama: Birmingham, WVTM-TV; Mobile, AL/ Pensacola, FL, WKRG-TV Florida: Tampa, WFLA-TV Georgia: Augusta, WJBF-TV; Columbus, WRBL-TV; Savannah, WSAV-TV Mississippi: Jackson, WJTV-TV and Hattiesburg, WHLT-TV South Carolina: Charleston, WCBD-TV

Mr. Conschafter has been president and market leader, Virginia- Tennessee since 2010. Previously, he had served in that role for the company's North Carolina market since July 2009. Prior to that, he had been senior vice president-broadcast stations, within the company's former broadcast division, since 2004.  Mr. Conschafter joined Media General in 2000 with the company's acquisition of Spartan Communications, where he had served as general manager.  He began at Media General as vice president and general manager of WSPA and two stations that are no longer owned by Media General. Earlier in his career, he held management and sales leadership positions at network-affiliated television stations in North Carolina, New York, Missouri and Ohio. Mr. Conschafter is a graduate of the Newhouse School of Communications at Syracuse University.

Mr. Cottingham has been president and market leader, Mid-South, since July 2009. Earlier this year, he assumed additional responsibility for the company's Florida market.  Prior to assuming his current role, Mr. Cottingham had been senior vice president-broadcast stations, within the company's former broadcast division, since 2005.  He joined Media General in 2001 as vice president and general manager of three stations, including WSPA in Spartanburg, SC. Earlier in his career, he held management and sales leadership positions at a number of broadcast stations in North Carolina, Ohio and Indiana.  Mr. Cottingham attended Belmont Abbey College.

About Media GeneralMedia General is a leading provider of news, information and entertainment across broadcast television and digital media platforms, serving consumers and advertisers in strong local markets, primarily in the Southeastern United States. The company's broadcast operations include 18 network-affiliated television stations and their associated digital and mobile media services. Media General's network affiliations include eight NBC stations, eight CBS, one ABC and one CW.  Six of its stations operate in the Top 40 markets in the United States.  Media General's stations reach more than one-third of TV households in the Southeast and more than 8 percent of U.S. TV households. Media General got its start in the television business in 1955 when it launched WFLA-TV in Tampa, Florida as an NBC affiliate. Today, WFLA is its largest station, operating in the 14th largest DMA in the United States. Media General continues to own The Tampa Tribune and its associated print properties and expects to enter into a transaction with one of several prospective buyers for its Tampa print properties.

SOURCE Media General

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs