Media General says its considering selling off its newspapers
TAMPA —Media General Inc., parent of The Tampa Tribune, announced that it is exploring the potential sale of newspaper operations. Media General says it has received inquiries from several third parties regarding the potential purchase of some of its print assets.
The company says it would consider selling the assets as a means of reducing its total debt outstanding over time.
Media General provided no definitive timetable for the evaluation process. The investment banking advisory firm Peter J. Solomon Co. is assisting Media General with the strategic evaluation.
Richmond, Va.-based Media General owns 23 newspapers, 18 television stations, websites and media advertising services companies, including News Channel 8 WFLA, TBO.com, Centro Tampa, Blu Tampa Bay and DealTaker.com.