FOR IMMEDIATE RELEASE
Friday, March 12, 2010
Media General Files Notice of 2010 Annual Meeting and Proxy Statement; Carl S. Thigpen Nominated to Board of Directors
Richmond, VA - Media General (NYSE: MEG) today filed its Notice of 2010 Annual Meeting and Proxy Statement with the Securities and Exchange Commission (SEC). The Annual Meeting of Shareholders will be held on April 22, 2010.
Carl S. Thigpen, executive vice president and chief investment officer of Protective Life Corporation in Birmingham, Ala., has been nominated to stand for election to the Board of Directors at the Annual Meeting.
Mr. Thigpen, 53, is responsible for the management of more than $29 billion in total cash and investments at Protective Life Corporation, which is a publicly traded, diversified life insurance and financial services company. He has been designated a chartered financial analyst by the CFA Institute. He previously served on the board and was a member of the Audit Committee of Cavalier Homes, Inc., a firm that was acquired by a Berkshire Hathaway subsidiary in 2009.
“Carl is a seasoned business executive and we look forward to having him join the Board as we capitalize on an improving economy and build shareholder value over the long-term,” said Marshall N. Morton, president and chief executive officer. “The Board will benefit from his strong financial background as a chief investment officer with a large insurance company. Additionally, he resides in Birmingham, Alabama, the home of our NBC-affiliated television station WVTM, and an important market for Media General.”
All current Media General directors are standing for re-election to the Board. They are: J. Stewart Bryan III, chairman; Scott D. Anthony, O. Reid Ashe, Jr., Diana F. Cantor, Dennis J. FitzSimons, Marshall N. Morton, Thompson L. Rankin, Rodney A. Smolla, Walter E. Williams and Coleman Wortham III.
Mr. Thigpen was recommended to Media General’s Nominating & Governance Committee this year by Mario J. Gabelli, a principal stockholder of the company. Mr. Gabelli additionally suggested subsequent to the company’s 2009 Annual Meeting that Dennis J. FitzSimons be considered for the Media General Board. Following a recommendation by the Nominating & Governance Committee, Mr. FitzSimons joined the Board on June 24, 2009. Mr. FitzSimons is chairman of the McCormick Foundation and former chairman, chief executive officer and president of the Tribune Company.
For the second year in a row, Media General is taking advantage of the SEC’s “Notice and Access Rule” that allows companies to furnish proxy materials to shareholders using the Internet. The “e-proxy” approach aligns with the company’s business move into digital media, reduces overall expense and supports the environment. The Annual Meeting will be held at 11 a.m. at the company’s Richmond production facility, 8460 Times-Dispatch Blvd., Mechanicsville, Va.
The Notice of Annual Meeting, Proxy Statement and 2009 Annual Report have been posted to the company’s Web site at www.mediageneral.com.
About Media General
Media General is a leading provider of news, information and entertainment across multiple media platforms, serving consumers and advertisers in strong local markets, primarily in the Southeastern United States. Media General’s operations are organized in five geographic market segments and a sixth segment that includes interactive advertising services and certain other operations. The company’s operations include 18 network-affiliated television stations and their associated Web sites, three metropolitan and 20 community newspapers and their associated Web sites, and more than 200 specialty publications that include weekly newspapers and niche publications targeted to various demographic, geographic and topical communities of interest. Many of the company’s specialty publications have associated Web sites. Media General additionally operates three interactive advertising services companies: Blockdot, which specializes in interactive entertainment and advergaming technologies; DealTaker.com, a coupon and shopping Web site; and NetInformer, a leading provider of wireless media and mobile marketing services.
Lou Anne Nabhan