Hearst Offers To Buy Rest Of Hearst-Argyle
March 26, 2009 at 5:31 AM (PT)
HEARST CORP. is offering $4/share cash for the remaining 33% of the Series A common stock it does not already own of HEARST-ARGYLE TELEVISION. The offer, which the company expects to commence in mid-APRIL, is 91% over the stock's closing price on TUESDAY. After the transaction, HEARST-ARGYLE will become a wholly-owned subsidiary of HEARST.
HEARST-ARGYLE operates two radio stations for HEARST, Talk WBAL-A and Rock WIYY (98 ROCK)/BALTIMORE.