Media General, Inc.´s (NYSE: MEG) subsidiary, LIN Television Corporation (“LIN”), has withdrawn its change of control offer to purchase its outstanding 5.875% Senior Notes due 2022 issued at 101% of the principal amount of the Notes plus accrued and unpaid interest, if any, the company said.
LIN is withdrawing the Change of Control Offer because necessary conditions set will not be satisfied within the time period allowed, specifically that a change of control purchase date may not be later than 60 days following the date of dissemination of a Change of Control Offer.
LIN plans to disseminate to holders of the Notes a new change of control offer to purchase on substantially similar terms as the Change of Control Offer.
Media General is a media company that operates or services 71 television stations in 48 markets.
