'Richmond Times-Dispatch' Reaches $48 Million Settlement In Printing Plant Fire

Posted Wednesday, December 26, 2007 12:00 am

By: Mark Fitzgerald Media General Inc. disclosed Wednesday that it has reached a $48 million settlement with its insurance company to cover damages from the fire last June at its flagship Richmond (Va.) Times-Dispatch.

In a filing with the Securities and Exchange Commission, Media General said the sum will cover property damage, business interruption and certain out-of-pocket clean-up expenses due to the fire, which damaged one of three presses at its production facility in Hanover County, Va.

The three-alarm fire started shortly after noon on June 23, and burned for more than two hours. The fire, while intense, was contained to the paper's "B" press line.

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'Richmond Times-Dispatch' Reaches $48 Million Settlement In Printing Plant Fire

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