INVESTOR ALERT: The Law Office of Jack Stuart Beige & Associates, P.C. Announces Investigation of LIN Media LLC Buyout Proposal
SMITHTOWN, NY, March 21, 2014:
The Law Office of Jack Stuart Beige & Associates, P.C. announces that it is investigating the Board of Directors of LIN Media LLC (“LIN”) (NYSE: LIN) for possible breaches of fiduciary duties and other violations of law in connection with LIN’s agreement to be acquired by Media General, Inc. (“Media”) (NYSE: “MEG”) in a transaction valued at approximately $1.6 billion.
Under the terms of the agreement, public shareholders of LIN can elect to receive $27.82 in cash or 1.5762 shares of the new holding company for each share of LIN they own.
The investigation concerns whether LIN’s Board of Directors breached its fiduciary duties to stockholders, whether the proposed consideration to be paid to LIN’s stockholders would be fair and adequate, and whether LIN is acting in its stockholders’ best interests.