The Struggle for Media Control
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The Struggle for Media Control - Video
By RTT News, December 12, 2014, 06:04:00 PM EDT
(RTTNews.com) - Media General Inc ( MEG ) and LIN Media LLC ( LIN ) said Friday that they have received approval from the Federal Communications Commission for the business combination that they announced in March. The FCC also approved the transfer of control of certain broadcast stations in connection with the divestitures that the companies in August.
The Department of Justice (DOJ) announced its approval for the merger on October 30. Media General and LIN Media expect to close on the merger and associated divestitures on December 19.
Upon closing of the transaction, the combined company will retain the Media General name and remain headquartered in Richmond, VA. Shares of the new Media General will be listed on the NYSE and trade under the symbol MEG. LIN Media shares will cease trading and will no longer be listed on the NYSE.
Upon closing of the transaction, Media General will become one of the largest pure-play broadcast companies in the country with the largest and most diverse digital business.
The combined company will own, operate or service 71 stations across 48 markets, reaching 27.5 million or 23% of U.S. television households. In addition to the websites associated with each TV station, Media General's digital media portfolio will include LIN Digital, LIN Mobile, Dedicated Media, HYFN and Federated Media.
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Media General, LIN To Close On Merger On Dec. 19
Researchers found most of those in the study who had the hardware and know-how to use social media felt less isolated and had improved cognitive capacity. Photograph: PA
Training older people to use social media improves cognitive capacity, increases a sense of self-competence and could have a beneficial overall impact on mental health and physical well-being, according to a study carried out in the UK and Italy.
During the two-year project, 120 elderly and vulnerable people from two regions renowned for the longevity of its populace the south west of England and the Marche region of central Italy were given specially-designed computers, broadband connections and training in using e-mail, Skype, Facebook and other social media tools. A control group simply received their usual care.
Researchers found most of those who had the hardware and the know-how reported feeling less isolated because of the connections they could make with relatives, friends and people with shared interests. More surprisingly, they also found those who had begun to use social media performed better in tests to gauge cognitive capacity and personal identity. Some reported that they were mentally and physically healthier than before while, in general, those in the control group steadily declined.
Margaret Keohane, a 70-year-old mother of six and grandmother of 23 from Somerset, said she had been amazed by the transformation she had noticed in herself since she had begun to use social media as part of the study. Its brought fun into my life again. Its changed my life, she said. Everyone will tell you, Im a different person. Ive lost weight. My hair was grey. Its blonde again now. Ive started taking care of my appearance again. My life feels bigger now. I was slipping away into a slower pace of life. I feel invigorated.
Thomas Morton, of the University of Exeters psychology department, who led the Ages 2.0 project in the UK said: Human beings are social animals, and its no surprise that we tend to do better when we have the capacity to connect with others. But what can be surprising is just how important social connections are to cognitive and physical health.
Keohane has multiple sclerosis and uses a wheelchair. She lives in a flat in a complex run by Somerset Care and lost her husband, Mike, six years ago. Some members of her family live abroad. But now they are all floating there on my computer all the time, even my husband. I can give him a kiss when I want.
Her Facebook profile picture is a motto: Dream Big...Believe in Miracles. Her likes include the vintage television series Dixon of Dock Green and (possibly influenced by her grandchildren) the films Finding Nemo and Up. Among her friends are her son, Tim, who is living away in the Gulf region and dozens of younger relatives who are scattered around the UK.
The study found that around three quarters of those given the computers and training found e-mail and Skype useful. Actually, fewer less than a half found Facebook worthwhile. But Keohane finds its an excellent way of keeping watch over her younger relatives. My grandchildren are all over Facebook. I can keep an eye on them and tell them off when they do something I dont approve of.
The ageing population is one of the major challenges facing society. It is expected between 2010 and 2060, the number of people aged 65 and over across Europe will grow from 17% to almost 30% of the total population.
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Study finds social media use beneficial to overall health of elderly
Source: The Cap Times
The state's health care program for public employees could face changes, pending the results of a study conducted by an Atlanta-based consultant.
Gov. Scott Walker's administration has contracted with the Segal Co. to study potential cost-cutting changes to the state's health insurance plans, including moving to a self-insured coverage program, the Milwaukee Journal Sentinel reported Wednesday.
That news came the same day the conservative MacIver Institute and National Center for Policy Analysis presented a report calling for changes to the state's health care benefit program for public retirees, based on the strengths of the state's pension fund.
The think tanks offered recommendations for both the pension system and the state's post-employment health benefit program. Their health coverage recommendations included higher premiums for retirees, closing the current program to future employees and those below age 45 and shifting those employees to a pre-funded plan, particularly one with a health savings account.
Asked about the MacIver and NCPA suggestions, Walker spokeswoman Laurel Patrick said in an email that the governor's priority is to continue to provide high-quality benefits at a good value to both current and retired state employees.
"According to PEW, Wisconsin is the only state in the nation with a fully funded pension system and the only state rated a solid performer in both pension and OPEB liabilities that include retiree health insurance," Patrick said. "Governor Walker will continue to look at ways to control costs and provide quality care."
The Segal study will explore several potential changes with the goal of saving taxpayers money on health coverage for state employees. One such change a shift away from private health maintenance organizations was floated by Walker last year, but no decision was reached.
Under the current model, state employees choose between private HMOs, which forces competition in the marketplace. Under a self-insured model, the state would pay benefits directly and assume the risk for losses rather than paying premiums to HMOs.
The study will take a broader focus than assessing the move to self-insurance, unlike two previous studies conducted by the consulting firm Deloitte.
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Media Contact
Viacom chieftain Philippe Dauman isnt waiting to see whats under the Christmas tree.
The media honcho has sold nearly $140 million worth of Viacom stock since just before the Thanksgiving holiday, gifting himself some $87 million in net proceeds after the cost to exercise stock options, according to The Posts calculations.
Daumans accelerating share sales are fueling speculation on Wall Street about the future of Viacom considered an eventual takeover candidate for another media rival as well as his own place atop the company.
Speculation has been in high gear since early November, when 91-year-old chairman and controlling shareholder Sumner Redstone sounded frail during a November earnings call.
The question of who will succeed Redstone and control a media empire that includes Viacom and CBS has changed depending on whos in Redstones good graces.
His daughter Shari was long seen as his successor before a falling out, at which point Dauman was believed to be the frontrunner.
Now, media watchers are wondering if Daumans rapid-fire share sales indicate his power within the Redstone firmament is waning.
The company said the sales were made for normal financial planning purposes and denied any connection to changes at the company.
Mr. Dauman sold for financial planning purposes and remains among the most invested CEOs in the media industry, said Viacom spokesman Carl Folta.
Dauman began unloading shares on Nov. 24. After exercising stock options, he turned around and disposed of 300,000 shares, raising $22.3 million.
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Viacoms CEO stock dump has Wall Street buzzing