Hearst Launches Bid To Take Hearst-Argyle Private

Wants To Go Private

HEARST-ARGYLE TELEVISION INC. partner HEARST CORP. announced FRIDAY that it intends to take the company private for $600 million cash. 

HEARST is offering $23.60/share for all outstanding series A common stock in HEARST-ARGYLE that it does not already own; it presently holds 52% of series A and 100% of series B stock in HEARST-ARGYLE, which owns Talk WBAL-A and Rock WIYY (98 ROCK)/BALTIMORE as well as 29 TV stations nationwide, including ABC affiliate WCVB-TV/BOSTON, independent WMOR-TV (MORE TV 32)/LAKELAND-TAMPA, NBC affiliate WESH-TV and CW affiliate WKCF-TV/ORLANDO, NBC affiliate WBAL-TV/BALTIMORE and several more. 

After the deal closes, the stations will become a wholly-owned division of HEARST CORP.

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