Special Committee of The Board of Directors of Hearst-Argyle Television Recommends Stockholders Accept Hearst Corporation Tender
05 May 2009 - 3:37AM
PR Newswire (US)
NEW YORK, May 4 /PRNewswire-FirstCall/ -- Hearst-Argyle Television,
Inc. (NYSE:HTV) today announced that the Special Committee of its
Board of Directors has unanimously determined that the tender offer
of The Hearst Corporation, which was commenced today, to acquire
all of the outstanding shares of Hearst-Argyle Television's Series
A Common Stock not owned by The Hearst Corporation at a price of
$4.50 per share is fair to Hearst-Argyle Television stockholders,
other than The Hearst Corporation and its affiliates. Accordingly,
the Special Committee unanimously recommends, on behalf of
Hearst-Argyle Television, that the stockholders accept the offer
and tender their shares pursuant to the offer. The offer expires at
5:00 p.m., New York City time, on Tuesday, June 2, 2009, unless it
is further extended. Notice to stockholders: In connection with the
tender offer commenced by The Hearst Corporation, Hearst-Argyle
Television has filed with the Securities and Exchange Commission
(SEC) a solicitation/recommendation statement on Schedule 14D-9.
Stockholders are urged to read the solicitation/recommendation
statement on Schedule 14D-9 and any amendments thereto filed from
time to time, because they contain important information.
Stockholders may obtain a free copy of the
solicitation/recommendation statement at the SEC's website at
http://www.sec.gov/. About Hearst-Argyle Hearst-Argyle Television,
Inc., a leading local media company, owns 26 television stations,
and manages an additional three television and two radio stations.
The Company's television stations reach approximately 18% of U.S.
TV households, making it one of America's largest television
station groups. Hearst-Argyle also owns 39 websites and currently
provides digital multicast channels, in addition to the main
digital channel, in 20 markets, featuring 24-hour weather and
entertainment programming. Hearst-Argyle is majority-owned by
Hearst Corporation. The Company's Web address is
http://www.hearstargyle.com/. FORWARD-LOOKING STATEMENTS This news
release includes forward-looking statements. We base these
forward-looking statements on our current expectations and
projections about future events. These forward looking statements
generally can be identified by the use of statements that include
phrases such as "anticipate", "will", "may", "likely", "plan",
"believe", "expect", "intend", "project", "forecast" or other such
similar words and/or phrases. Actions taken by Hearst Corporation
with respect to its tender offer, as well as other matters, may
cause actual events to differ from those we describe. Except as
required by applicable law, we undertake no obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
http://www.hearstargyle.com/ DATASOURCE: Hearst-Argyle Television,
Inc. CONTACT: Tom Campo, Investor Relations of Hearst-Argyle
Television, Inc., +1-212-590-2464 Web Site:
http://www.hearstargyle.com/
Copyright
Hearst Argyle Tv (NYSE:HTV)
Historical Stock Chart
From May 2024 to Jun 2024
Hearst Argyle Tv (NYSE:HTV)
Historical Stock Chart
From Jun 2023 to Jun 2024
Real-Time news about Hearst-Argyle Television Inc. (New York Stock Exchange): 0 recent articles
More Hearst-Argyle Television Inc. News Articles