Magazine article Editor & Publisher

Media General to Acquire Park

Magazine article Editor & Publisher

Media General to Acquire Park

Article excerpt

MEDIA GENERAL ANNOUNCED this week that it will pay $710 million in cash to acquire Park Acquisitions Inc., parent company of Park Communications Inc., and owner of 10 network-affiliated TV stations, 28 daily newspapers, and 82 weeklies.

                         Editor & Publisher

                      U.S. Media Stock Values

                      (Weekly Closing Quotes)

STOCK                             7/24/96   7/17/96   7/24/95

A.H. Belo Corp. (NY)              38.125    35.75     30.00
American Media Inc. (NY)           4.50      4.625     6.75
Central Newspapers Inc. (NY)      34.00     35.625    27.625
Dow Jones & Co. Inc. (NY)         38.00     38.25     36.00
Gannett Co. Inc. (NY)             64.875    65.625    55.00
Gray Comm. Sys. (NY)              22.625    21.125    18.50
Harte-Hanks Comm. (NY)(1)         25.875    25.875    16.75
Hollinger International (NY)(3)   10.00     9.875     10.50
Knight-Ridder Inc. (NY)           65.75     65.50     56.625
Lee Enterprises Inc. (NY)(2)      21.00     20.875    18.50
McClatchy Newspapers Inc. (NY)    26.00     26.375    22.25
Media General Inc. (AM)           32.125    33.875    31.625
New York Times Co. (AM)           29.75     29.125    25.00
Providence Journal (NY)(4)        17.625    15.00      N/A
Pulitzer Publishing Co. (NY)      54.375    56.25     45.25
E.W. Scripps Co. (NY)             42.75     41.75     31.75
Times Mirror Co. (NY)             40.50     40.875    28.375
Tribune Co. (NY)                  67.125    65.25     64.00
Washington Post Co. (NY)          303.75    304.00    269.50

(1) Adjusted for 3 for 2 stock split as of 12/95

(2) Adjusted for 2 for 1 stock split as of 12/8/95

(3) American Publishing merged with Hollinger Inc. as of 10/13/95

(4) Initial Public Offering 6/24/96

                         Editor & Publisher

                     Foreign Media Stock Values

                      (Weekly Closing Quotes)

STOCK                              7/24/96   7/17/96   7/24/95

Hollinger Inc. (1)                 10.20     10.30     12.25
News Corp. Ltd. (3)                19.25     22.00     24.375
Pearson Ltd. (2)                    6.40      6.19      6.25
Quebecor Inc. Class A (1)          20.75     20. … 
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