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Media General Announces Plans To Relocate KRON-TV Operations

Stocks in this article: MEG

Media General, Inc. (NYSE: MEG), a local broadcast television and digital media company, today announced plans to move the operations of KRON-TV, its MyNetworkTV affiliate in San Francisco, Ca., to another building in San Francisco that is ideally suited to meet the technical needs of a television station. Media General said that it has reached agreement with KGO-TV in San Francisco to sublease space for KRON’s operations. KGO is the ABC owned station in the market.

KRON will remain an independent station with its own staff and separate broadcast facilities. No staffing changes are expected as a result of the move, which is expected to be completed in the next six to nine months. Media General plans to list for sale KRON’s current building, located at 1001 Van Ness Avenue.

George L. Mahoney, president and chief executive officer of Media General, said, “When Media General learned of the available space in the building occupied by KGO, we determined that subleasing the space was an ideal solution to our need to make better use of the significant excess capacity in KRON’s existing building. We see this move as an excellent opportunity to invest in KRON’s future and its ability to even better serve the San Francisco market with outstanding local news. The new space will provide a separate studio for our use that is a significant upgrade from our current studio, and we will configure other space to meet our specific needs. The new space will enable our employees to collaborate more effectively as well as enhance their ability to serve our viewers and advertisers,” said Mr. Mahoney.

About Media General

Media General, Inc. is a leading local television broadcasting and digital media company, providing top-rated news, information and entertainment in strong markets across the U.S. The company owns or operates 31 network-affiliated broadcast television stations and their associated digital media and mobile platforms, in 28 markets. These stations reach 16.5 million, or 14%, of U.S. TV households. Their network affiliations include CBS (12), NBC (9), ABC (7), Fox (1), MyNetworkTV (1) and CW (1). Sixteen of the 31 stations are located in the top 75 designated market areas. Media General first entered the local television business in 1955 when it launched WFLA in Tampa, Florida as an NBC affiliate. The company subsequently expanded its station portfolio through acquisition. In November of 2013, Media General and Young Broadcasting merged, combining Media General’s 18 stations and Young’s 13 stations into the 31-member group that exists today. Five of the stations have been on the air since 1949: WCMH in Columbus, Ohio; WVTM in Birmingham, Alabama; WJAR in Providence, Rhode, Island; KWQC in Davenport, Iowa; and KRON in San Francisco.

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