Media General Settles Damages Claim from Fire

TV-Station Operator and Newspaper Publisher’s Insurance Co. to Pay $48M After Fire at Richmond Times-Dispatch Printing Facility

By B&C Staff -- Broadcasting & Cable, 12/26/2007 3:01:00 PM

Media General said its insurance provider will pay $48 million to cover damages from a fire at one of its printing facilities, AP reported.

A press at the company’s Richmond Times-Dispatch printing facility near Richmond, Va., caught fire during the second quarter, and the TV-station operator and newspaper publisher said in a regulatory filing Wednesday that the settlement amount will cover property damage, business interruption and out-of-pocket cleanup expenses, according to AP.