SEC Form 4 · accession 0001140361-16-056828
MEDIA GENERAL INC · NYSE: MEG
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owners
Standard General L.P.
10% Owner
Soohyung Kim
Officer — See Footnote 3 · Director · 10% Owner
Standard General Fund L.P.
10% Owner
Standard General Communications LLC
10% Owner
Period of report
Mar 4, 2016
Accepted (ET)
Mar 7, 2016 · 5:18 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000216539
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Voting Common stock, no par valueF1,F2,F3,F5 | Mar 4, 2016 | S | 7,000,000 | $16.51 | D | 11,878,209 | I | See Footnotes |
| Voting Common stock, no par valueF4,F1,F2,F3,F5 | Mar 4, 2016 | J | 4,297,060 | — | D | 7,581,149 | I | See Footnotes |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1The securities reported herein are held by Standard General Fund L.P. (the "Limited Partnership") and Standard General Communications LLC (the "LLC" and, together with the Limited Partnership, the "Funds"), private investment vehicles for which Standard General L.P. ("Standard General") serves as investment manager. As the sole owner of the LLC, the Limited Partnership may be deemed to beneficially own the shares held by the LLC. Standard General exercises voting and investment control over the shares held for the accounts of the Funds. Mr. Kim is a director of the general partner of the general partner of Standard General and Chief Investment Officer of Standard General, and in such capacities may be deemed to indirectly beneficially own the securities reported herein.
- F2Each of the Reporting Persons disclaims beneficial ownership of the shares reported herein except to the extent of its pecuniary interest in such shares, and the inclusion of such securities in this report shall not be deemed an admission of beneficial ownership for purposes of Section 16 or for any other purpose. Mr. Kim is also a Director of Media General, Inc.
- F3Represents 3,150,432 shares sold for the account of the Limited Partnership and 3,849,568 shares sold for the account of the LLC.
- F4Represents a distribution in kind by the LLC. The closing price of the Issuer's shares on such date was $16.80. The LLC became obligated to effect this distribution on March 4, 2016, although the shares may be transferred on any date prior to May 3, 2016.
- F5As of the close of business on March 4, 2016, the Limited Partnership and the LLC held 599,094 and 6,982,055 shares of the Issuer's Voting Stock, respectively, after giving effect to the sales and the distribution described in Footnotes 3 and 4 above.