Meredith/Media General Merger

NEWSSHOOTER3

Well-known member
http://whotv.com/2015/09/08/meredith-corporation-being-sold-in-3-1-billion-deal/

What do yous think this will mean for the new company? What is Media General's philosophy? And, should I keep or dump my Meredith stock? What does this merger mean?

Thoughts?
 

At the scene

Well-known member
http://whotv.com/2015/09/08/meredith-corporation-being-sold-in-3-1-billion-deal/

What do yous think this will mean for the new company? What is Media General's philosophy? And, should I keep or dump my Meredith stock? What does this merger mean?

Thoughts?
The only thing I can tell you is that Media General's philosophy is cheap,cheap,cheap. Yes most company's are cheap and trying to save a buck these are by far the cheapest bast$#s I have ever been involved with. Hopefully they will leave the station operations they way it is but be ready for change. Sorry for the downer message!! One more thing if you are getting medical benefits from your current station a huge change to your medical is about to happen and not in a good way. I do really hope everything works out. Don't expect changes for about a year. That's how long it usually takes to figure out how to cut costs.
Good luck!!!
 

svp

Well-known member
At the Scene is right. Media General decimated WCMH in Columbus, OH when they bought it from NBC. That station has never been the same since and its very noticeable on-air.
 

ADOG

Member
It has been nearly a decade since I worked for media general and I know that a lot can change in that time. That said, I was happy with our benefits, pay, and equipment. our photographers had the highest salaries in market and most everyone had the same experience level. We had some aging cameras but they upgraded us to p2 and we were non-linear before the competition. Now I am competing against them. They still have better equipment, higher pay, better benefits and more resources. This is just my observation and I am sure there are people working there now who might know much more than I but I wouldn't say it is a bad company.
 

At the scene

Well-known member
It has been nearly a decade since I worked for media general and I know that a lot can change in that time. That said, I was happy with our benefits, pay, and equipment. our photographers had the highest salaries in market and most everyone had the same experience level. We had some aging cameras but they upgraded us to p2 and we were non-linear before the competition. Now I am competing against them. They still have better equipment, higher pay, better benefits and more resources. This is just my observation and I am sure there are people working there now who might know much more than I but I wouldn't say it is a bad company.
No disrespect but aren't you the same guy on another post who wrote
My station is heading in the direction of MMJs, few to no photographers, using iPhones with selfie sticks to go live, and tiny cameras set on auto mode (one button to rule them all).
I think any company is better than the one you are describing.
 

ADOG

Member
I hear what you are saying at the scene. That is why I say media general my have some issues but it could always be worse.
 

At the scene

Well-known member
I hear what you are saying at the scene. That is why I say media general my have some issues but it could always be worse.
I agree!!! You could say that about any business. My experience with Media General was minimal but similar to your situation. We were an NBC O&O and sold to Media General who like SVP said "decimated" not only Columbus but my old station as well.
 

ADOG

Member
Just curious, what other changes did Media General make? It sounds like they changed benefits but did they also change equipment and staffing? It seems like at one time they wanted to standardize their stations. For example it seemed as though all their stations went to P2. The media general station I compete with has gone to jvc since the merger with lin and they kept open positions open for longer periods of time. Are you guys at other media general stations seeing this too?
 

marstaton4

Well-known member
MG seems to have drifted from having all of their stations having the exact same equipment. When I was at an MG affiliate we had a fair amount of autonomy, I was generally able to purchase what I wanted as long it lined up in the budget. Updated their SNG vehicle exactly how i wanted it including some spiffy Adtec encoders.

I think a lot of things on the local level are controlled by the local management. Obviously there are some things that corporate "mandates" Where I worked they didn't say no to a lot of things, but they didn't exactly encourage you to go and do what you needed to do ie hotels and travel meals.

I had a pretty good 10 year run and I survived the extensive layoffs in ~2008.

From what I've heard, which may not be right, is that Meredith will be the ones running the show.

Either way good luck!
 

marstaton4

Well-known member
http://whotv.com/2015/09/08/meredith-corporation-being-sold-in-3-1-billion-deal/
And, should I keep or dump my Meredith stock?

I think most people will always encourage you to dump your current employers stock. It's a lot of eggs in one basket seeing how your employment, insurance, etc. is already "invested" in the company.
 

At the scene

Well-known member
Just curious, what other changes did Media General make? It sounds like they changed benefits but did they also change equipment and staffing? It seems like at one time they wanted to standardize their stations. For example it seemed as though all their stations went to P2. The media general station I compete with has gone to jvc since the merger with lin and they kept open positions open for longer periods of time. Are you guys at other media general stations seeing this too?
When I was a Media General employee the toughest challenge with them was that we were a union shop and I felt that they spent to much money and resources to break up the union which they could never do. Battling over the silliest little things to prove that they were in charge. Instead in investing in the number1 station in that market.

Correct we did change over to P2 equipment the cheap 370. pleaded to upgrade to a better camera, they wouldn't.. Our fleet of news cars consisted of 2004 news vehicles, I hear they are being replaced by the new company that MG sold too this month 2015.

Also talked about upgrading to HD in 2010. 5 years later the station is still shooting standard def in the field. Also the new company is finishing the job, station should be full HD in November.

The list goes on and on and on. Same stories from the other dept. within the building. You may get new gear but be prepared for Prosumer stuff. Hopefully that doesn't happen to your station. Good Luck!!
 
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