Hearst Buying More Of Hearst-Argyle

Buying More Of Hearst-Argyle

HEARST CORP. filed paperwork with the SEC THURSDAY informing the regulator that it is buying 8 million class A common shares of HEARST-ARGYLE TELEVISION, bringing its stake in the broadcaster to from 74% to 82%. 

HEARST, which made a failed bid to take HEARST-ARGYLE private earlier this year, says that it will cost about $186.8 million to buy the shares and the move will allow HEARST to consolidate HEARST-ARGYLE with HEARST for tax purposes. 

HEARST-ARGYLE owns Talk WBAL-A and Rock WIYY-A (98 ROCK)/BALTIMORE.

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