Hearst to Purchase Outstanding Shares of Hearst-Argyle Television

Posted Wednesday, June 3, 2009 12:00 am

By: Katy Bachman/Mediaweek Hearst Corp., owner of newspapers, magazines and cable networks, announced Tuesday that it will go forward with its purchase of the outstanding shares of Hearst-Argyle Television that it does not own.

The tender offer expired at 5 p.m. on Tuesday, June 2.

After Hearst completes the purchase of the shares, Hearst-Argyle Television, owner and operator of 29 TV stations and two radio stations, will be merged into Hearst Corp. and operated as a wholly owned subsidiary under the new name, Hearst Television Inc.

Hearst expects to complete the merger within the next several business days.

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Hearst to Purchase Outstanding Shares of Hearst-Argyle Television

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